Japan Companies' Repatriation Unlikely to be Near Term Boost for Yen
Dow Jones
1 hour ago
0407 GMT - Japanese companies' repatriation of funds is unlikely to be a driver of yen strength in the near term, Citi strategists say in a note. However, if Japanese companies develop a more bearish view on the dollar-yen pair, they could repatriate assets or put in place forex hedges on their overseas assets, the U.S. bank says. Earnings reinvested abroad by Japanese companies make up a growing portion of their outstanding overseas investment, Citi says. The dollar is 0.4% higher at 156.41 yen following a 1.8% decline on Thursday.
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