(Bloomberg) -- Japanese housewives are helping to
moderate currency swings by betting against professional
investors, Bank of Japan board member Kiyohiko Nishimura said.
``The arrival of Japanese households as major investors
seems to have affected foreign-exchange markets,'' Nishimura, 54,
said in a speech at a meeting at the Brookings Institute in
Washington yesterday. ``The gnomes of Zurich were accused in
their day of destabilizing markets. The housewives of Tokyo are
apparently acting to stabilize them.''
Read more at Bloomberg Currencies News
moderate currency swings by betting against professional
investors, Bank of Japan board member Kiyohiko Nishimura said.
``The arrival of Japanese households as major investors
seems to have affected foreign-exchange markets,'' Nishimura, 54,
said in a speech at a meeting at the Brookings Institute in
Washington yesterday. ``The gnomes of Zurich were accused in
their day of destabilizing markets. The housewives of Tokyo are
apparently acting to stabilize them.''
Read more at Bloomberg Currencies News
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