Apr 09, 2007
And this just in from the forex markets news
with Japan saying that it will use its Dollar FX reserve portfolio to make official payments rather than convert Jpy via commercial banks. Of the Usd 4.8 bn of overseas payments Jpy 570 bn) around 90% is made in Dollar. Overall, suggests a slight Usd-Jpy negative, although the relatively small amounts suggest that this will be minimal and swamped by other factors. Nonetheless, it is another way of seeking to make more productive use of burgeoning Fx reserves (by avoiding transactions costs0 and could set the lead for other countries.
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