" Mrs Watanabe. She is the holder of the Japanese purse strings, she represents the Japanese housewives who deal in foreign exchange. Mrs Watanabe is the one that calls the shots on the incredible wealth held within the Japanese household. She is the one that buys and sell financial assets.....According to BoJ data, the Japanese household has an incredible ¥1575tn of financial assets ($AU19tn) with 49 per cent of this sitting in currency and deposits earning close to zero interest. .... back in May 2008, she held 23 per cent of her foreign investment trust assets in euros and 10 per cent in Australian dollars. ...June of this year and she had approximately 7 per cent of foreign assets in euros and 25 per cent in Australian dollars...she has slashed her holdings of euro assets and effectively replaced them with Australian dollar assets."
Source: Australian dollar flying high, but for how long?
29 AUGUST 2012
Robert Rennie
ABC News - The Drum Opinion
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