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Getting a number of emails from Japanese firms which are girding for The Ten Consecutive Days Off (weekend, workweek, weekend, Monday) as if it will be a societal calamity.
(Golden Week, an annual observance, is slightly longer this year due to a combination of factors.)
(Golden Week, an annual observance, is slightly longer this year due to a combination of factors.)
Said emails include a bank worrying that retail currency conversions between JPY and USD may become unreliable due to a lack of counterparties, a worry which... seriously, does the bank have literally no one who understands how any of this works?
I mean yes the proverbial Watanabe-san will probably pull her liquidity but that is one of the world’s most important currency pairs which has a) deep, deep fundamental demand in both directions daily and b) practically every institutional counterparty in world happy to step in.
