Yen CF Trade

8/13/2019 Yen CF Trade

1/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#


2/11

o 42" I?JH$(" E-?">IK 7."=B0=1D

42" L-#HB> 7"K-=B ;$#1">( 8K-=-?/ 2$> 2$B $

="1$IC" 1#-F(2 #$(" 0= (2" H$>( (2#"" /"$#> $=B 0>"A."K("B (- 1#-F $( MDNO P 0= QOMORMM

o 42" 0= (2" F-#HBD ;-=1 ("#? )-C(D B"G( 0> $H#"$B/ $( MSO

P -T )EU $=B "A."K("B (- "AK""B QON P -T )EU $>

42" " UJGH0K E"G( (- #0>" G/ 67E NSW'= (- #-J12H/ XMODWO 4=

o 42J> (2" $ G0$>"B .->0I-= (-@"". 0=("#">( #$("> H-FY (- TJ=B 0(> -F= B"G(Z $C-0B

B"[$I-= $=B >.J# 0=C">(?"=(RB-?">IK B"?$=BD

o:= $ .->0IC" >0B" \O P -T (20> B"G( 0> 2"HB G/B-?">IK $11#">>0C"H/ (- @"".(2" /"= ."$@ (- .#-("K( 0(> "A.-#("#>D

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#


3/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#

9-F"C"# (2" $1"0=1D ,= (2"="A( QO /"$#>Z ^^ P -T 0(> .-.JH$I-= F0HH G" -C"#

_W /"$#> -HBD 420> ?$/ K$J>" $ .#-GH"? T-# TJ=B0=1

)-C(D E"G( 0= (2" TJ(J#"D

` (2" >"K-=B H$#1">( 67E #">"#C"> -T$..#-A0?$("H/ 67E MDOW 4#0HH0-= $=B "=%-/> $ H$#1"

KJ##"=( $KK-J=( >J#.HJ>D '"(F""= QOOM $=B QOO\

(2">" #">"#C"> )#"F T#-? 67E ^WO '= (- M 4=D

` 9-F"C"# BJ#0=1 (20> ."#0-B (2"


4/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#

` 420> #">JH("B 0= F2$( 0> .-.JH$#H/ =-F@=-F= $> (2" 5"= *$##/ 3-#F$#B e$("

` 420> $>>J?"B ?$=/ T-#?>D ,( #">JH("B 0=K#->> KJ##"=K/ "A.->J#" aG"(F""= (2" $67ERJ#" -= ?$(J#0(/ -T (2" ;-$=R

,=C">(?"=(D

` 9"B1" V#G0(#$1"B $=B '-##-F"B 0= ("B

(2" 67E 0= )-C(D G-=B> -T !"F g"$H$=BF20K2 /0"HB"B S P.$

` +-#" K-??-=H/ 2"B1" TJ=B> G-##-F"B2-#("B 0( 0= >.-( ?$#@"(> (- GJ/ "fJ0I">


5/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#

` ;-10K$HH/ 0T (2" 0=("#">( #$(" -= -="KJ##"=K/ 0> H-F"# (2$= (2" 0=("#">(

#$(" T-# $=-(2"# KJ##"=K/ aT-# $ >0?0H$#?$(J#0(/c (2"= (2" h#>( KJ##"=K/ ?J>(

="K">>$#0H/ (#$B" $( $ .#"?0J? a0D"D G"

?-#" "A."=>0C" 0= (2" T-#F$#B

?$#@"(c (- (2" >"K-=B KJ##"=K/ 0= (2"

3-#"01= "AK2$=1" ?$#@"(> >JK2 (2$((2"#" 0> =- $#G0(#$1" .->>0GH" G"(F""=

(2" KJ##"=K/ $=B ?-="/ ?$#@"(> "D1D

0T 0=("#">( #$("> 0=


6/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#

Money Market Forex Market

JPY 6

Month

Rate

1.20% Spot Rate 85

USD 6

Month

Rate

3.60% 6 Month

rate

83.998 WHY

??

` ;"(> (">( (20> 2/.-(2">0>` V KJ##"=K/ F0(2 $ H-F 0=("#">( #$("

?J>( fJ-(" $1$0=>( $ KJ##"=K/ F0(2 $

2012"# 0=("#">( #$(" $( >JK2 $ .#"?0J?0= (2" T-#F$#B T-#"01= "AK2$=1"

?$#@"(> >JK2 (2$( (2" 0=("#">(

B0i"#"=I$H 0> ="1$("B

` 6=H">> (20> 2$.."=> $#G0(#$1" F-JHB G"K-=>($=(H/ .->>0GH" a>"" "A$?.H"c


7/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#` V 9"B1" 3J=B G-##-F> _ ?-=(2 j MDQO P .$

` 9" (2"= >"HH> (20> (- 1"( 67E M +=

` 9" 0=C">(> (2" 67E M += $( ^D_O P .$ 0=(2" 67 4#"$>J#/ '0HH ?$#@"(>

!-F $b"# _ +-=(2> 2" -F"> (2"


8/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#` 42J> J=H">> (2" _ ?-=(2 3J(J#"> 3A #$(" 0>

S^D\\S $#G0(#$1"J#> F-JHB ?$@" #0>@ T#""

#"(J#=> 0D"D (2" /"= ?J>( fJ-(" $( $

.#"?0J? a?-#" "A."=>0C"c (- (2" 67E (-(2" "A$K( "A("=( -T (2" 0=("#">( #$("

B0i"#"=I$H -# S^D\\S 0= (2" _ ?-=(2 TJ(J#">

?$#@"(D

` V=/(20=1 F"$@"# >$/ Sd Z 9"B1" 3J=B> F0HHB- (2" T-HH-F0=1k

` ,T F-JHB G-##-F .-(

#$("cZ >"HH /"= (- 1"( 67E M ?=

` ,=C">( 0= ^D_O P 4 '0HH> $=B` 70?JH($="-J>H/ (2" 93 L-JHB GJ/


9/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#` Vb"# _ ?-=(2> (2" 93 F-JHB -F" (2"


10/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#` V=/(20=1 >(#-=1"# >$/ S^ Z 9"B1" 3J=B> F0HH

B- (2" T-HH-F0=1k

93 F0HH '-##-F 67E $( ^D_O P M?= a>.-(#$("cZ >"HH 67E (- 1"( 5"= SW ?=D 42J> 2" F0HH-F" (2" '$=@ MZOMSZOOO $b"# _ ?-=(2>

` ,=C">( 0= MDQO P H/ GJ/ 67E _ ?-=(2 T-#F$#B

F-#(2 SWZWMOZOOO 2" ?$@"> $ .#-h( -T MQZQNO 67E ."#67E M += G-##-F"B $> $= $#G0(#$1" .#-h(

F0(2-J( $>>J?0=1 $=/ #0>@D

` 42J> -=H/ $( (2" "A$K( "AK2$=1" #$(" -TS^D\\S B-"> $#G0(#$1" 1"( .#"C"=("B


11/11

!""#$% '$(#$ )*+, *-./#012( ,!3,!,45 '67,!877 7*9::;

!"# %#& '())* +,)-(). !)(.#

9-F"C"# >0=K" (2" K-?."IIC" 0( B0B =-( H0@" (2" 5"= (- $..#"K0$("

` 420> #">JH("B 0= 93 ($@0=1 $ G"( -= (2" T-#F$#B #$(" -T (2" 67ER5"=?$0=($0=0=1 $ =$##-F G$=B >JK2 (2$( (2" TJ=B K-JHB ($@"

$BC$=($1" -T (2" 0=("#">( #$(" B0i"#"=I$H> GJ( @"". $= -."=

T-#F$#B .->0I-= -= (2" "AK2$=1" #$(" IHH ?$(J#0(/ $=B #">JH("B 0=

4#0HH0-=> -T E-HH$#> -T 5"= *$##/ 3-#F$#B 4#$B" IHH QOOSD

Yen CF Trade

Documents

Transcript of Yen CF Trade