Epstein Secrets

lth Management Australia Ltd AIM 50 005 311 937 (Holder of Australian Financial Services Licence No. 2311

e maintaining our recommen- dation to underweight the Japanese yen. The Japanese economy continues to weaken against its peers, raising pressure on the Bank of Japan to engage in further quan- titative easing. We have also closed our preference for the Canadian dollar, which is less attractively valued after sol

should profit in the medium term. e Longer-term debt issues and weak competitiveness of major exporters are hurting the Japanese economy. Therefore the Bank of Japan and Ministry of Finance will maintain an expansive policy and continue to try weaken the JPY. However, current positive growth dynamics are supportiv

alth Management Australia Ltd ABN 50 005 311 937 (Holder of Australian Financial Services Licence No. 2311

Foreign Exchange We remain underweight the Japanese yen. The Japanese economy continues to weaken against its peers, leading to rising pressure for the Bank of Japan to engage in further quantitative easing. We have closed our preference for the Canadian dollar following its recent strength, and therefore close ou

ealth Managemen Australia Ltd ABN 50 005 311 937 (Holder of Australian Financial Services Licence No. 2311

ating Organization of Bursa Malaysia Berhad and a holder of Capital Markets Services License issued by the

lar to QE itself. Beyond that, this is another small step towards perceptions that monetary policy is no longer independent from fiscal policy, like the Bank of Japan’s joint statement with two government ministers last month. Nobody knows the tipping point at which these perceptions feed into much higher inflation e