Zaiteku’s most visible manifestations are the staggering daily volumes on the Tokyo foreign exchange market – up from an average of $2 billion in 1979 to $48 billion today.
The driving force behind this is corporate Japan. Customer trading makes up a third of the total volume, compared to 14% in New York and II% in London, where interbank transactions dominate, according to Bank of Japan figures.
“Corporate activity is huge,” said Michael Simpson, Irving Trust vice president and foreign exchange manager in Tokyo.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
