⚖️🇯🇵 Japanese Investors Largest Footprints In Australia and U.S.: Cable FX Macro

• Looking at Japanese claims on foreign entities, we can observe the markets where Japan investors have the largest footprint

• In dollar terms, Australia and U.S. come on top. The former moves in line with the broad carry trade as yen funding goes into high yielders like the AUD

• Japan foreign claims on French entities have been reduced through the last couple of quarters, however, the dollar amount remains higher than in Germany

• The size of invertors' footprint comes into desks radar as a potential change in policy from the BoJ could affect these markets