Japanese Boost Asian FX Trades As Tokyo Market Favours $/Yen
BANKS
Japanese City banks are gearing up FX trading in Asian currencies outside Japan while the Tokyo forex market remains sluggish and the majority of business is in dollar/yen, sources say. The Bank of Japan says dollar/yen deals represent more than 75 per cent of transactions in Japan.
In response to this trend, Fuji Bank will this month put the foreign exchange trading operations at its Singapore branch under the direct control of its international treasury division in Tokyo in a bid to expand
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