Wednesday, July 11, 2007

Japan Should Diversify Reserves

Markets normally lead the press…

Japan Should Diversify Reserves, Abe Adviser Ito Says

By Shigeki Nozawa

July 11 (Bloomberg) -- Japan, the largest overseas holder of U.S. Treasuries, should invest $700 billion of its currency reserves in higher-yielding assets such as stocks and corporate bonds, said Takatoshi Ito, an adviser to the prime minister.

The reserves should be managed by a special fund that will gradually diversify into euros, Australian dollars and emerging- market currencies, Ito said in an interview in Tokyo.

Central banks in South Korea, China and Taiwan have announced plans to buy assets with higher returns than U.S. debt, contributing to a 7.4 percent drop in the dollar against the euro in the past year. -source

Long term 27 years Gold / Yen Chart (XAUJPY) Price scale : 10K Yen per Gold Troy Ounce.

gold yen chart

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