Japanese exporters are snapping up forward exchange contracts - Nikkei

The Nikkei, Japanese daily carried a story this Thursday, noting that the Japanese exporters are liquidating their forward exchange contracts, locking-up gains from an unexpected slump in the yen.

Key Quotes:

“Japanese exporters are snapping up forward exchange contracts to nail down gains from the yen's rapid declines against major currencies in the past month”

“Major Japanese companies had assumed rates of 102 yen to the dollar, on average, and around 112 yen to the euro for the second half ending March 2017”

‘So the yen's sudden plunge has proved an unexpected boon for exporters”