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O par $USDJPY continua sua trajetória de alta. Isso é puramente um jogo de diferencial de taxa de juros, ou há outros fatores em jogo que sugerem que essa fraqueza pode persistir por um período mais longo? Tentando entender as razões estruturais.
I think you're spot on about the structural reasons. It's not just the rates; the BoJ's overall dovish stance and the current global economic outlook seem to be creating a perfect storm for sustained JPY weakness.
Could it be partly due to the massive trade deficits Japan has been running? That has to play a role beyond just interest rates.
It's mostly rate differentials, but don't discount the BoJ's reluctance to intervene strongly. That indecision just fuels the carry trade.
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