{"id":46404,"date":"2026-05-06T08:37:59","date_gmt":"2026-05-06T08:37:59","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e6%ac%a7%e5%85%83-%e6%97%a5%e5%85%83%e4%b8%8b%e6%8c%ab%e5%90%8e%e5%8f%8d%e5%bc%b9%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b9%b2%e9%a2%84%e6%8b%85%e5%bf%a7%e5%86%8d%e8%b5%b7%ef%bc%8c%e6%ac%a7%e5%85%83%e5%8c%ba\/"},"modified":"2026-05-06T08:37:59","modified_gmt":"2026-05-06T08:37:59","slug":"%e6%ac%a7%e5%85%83-%e6%97%a5%e5%85%83%e4%b8%8b%e6%8c%ab%e5%90%8e%e5%8f%8d%e5%bc%b9%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b9%b2%e9%a2%84%e6%8b%85%e5%bf%a7%e5%86%8d%e8%b5%b7%ef%bc%8c%e6%ac%a7%e5%85%83%e5%8c%ba","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e6%ac%a7%e5%85%83-%e6%97%a5%e5%85%83%e4%b8%8b%e6%8c%ab%e5%90%8e%e5%8f%8d%e5%bc%b9%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b9%b2%e9%a2%84%e6%8b%85%e5%bf%a7%e5%86%8d%e8%b5%b7%ef%bc%8c%e6%ac%a7%e5%85%83%e5%8c%ba\/","title":{"rendered":"\u6b27\u5143\/\u65e5\u5143\u4e0b\u632b\u540e\u53cd\u5f39\uff0c\u65e5\u672c\u5e72\u9884\u62c5\u5fe7\u518d\u8d77\uff0c\u6b27\u5143\u533a\u6570\u636e\u6210\u7126\u70b9"},"content":{"rendered":"

EUR\/JPY\u5468\u4e09\u4ece\u7565\u4f4e\u4e8e185.00\u8dcc\u81f3182.05\uff0c\u968f\u540e\u53cd\u5f39\u81f3183.40\u3002\u5176\u4ed6\u65e5\u5143\u4ea4\u53c9\u76d8\u4e5f\u51fa\u73b0\u660e\u663e\u6ce2\u52a8\uff0c\u5e02\u573a\u56e0\u6b64\u6000\u7591\u65e5\u672c\u8d22\u52a1\u7701\uff08Ministry of Finance\uff0c\u7b80\u79f0MOF\uff0c\u8d1f\u8d23\u56fd\u5bb6\u8d22\u653f\u4e0e\u6c47\u7387\u76f8\u5173\u51b3\u7b56\uff09\u53ef\u80fd\u51fa\u624b\u5e72\u9884\u3002<\/p>\n

\u65e5\u672c\u901a\u5e38\u4e0d\u4f1a\u8bc4\u8bba\u662f\u5426\u8fdb\u884c\u201c\u6c47\u7387\u5e72\u9884\u201d\uff08currency intervention\uff0c\u6307\u653f\u5e9c\u7528\u5916\u6c47\u50a8\u5907\u5728\u5e02\u573a\u4e70\u5356\u8d27\u5e01\uff0c\u4ee5\u5f71\u54cd\u6c47\u7387\uff09\u3002\u4e0d\u8fc7\uff0c\u65e5\u672c\u592e\u884c\uff08Bank of Japan\uff0c\u7b80\u79f0BOJ\uff09\u4e0a\u5468\u516c\u5e03\u7684\u6570\u636e\u663e\u793a\uff0c\u8d22\u52a1\u7701\u53ef\u80fd\u5728\u4e0a\u5468\u56db\u52a8\u75285.48\u4e07\u4ebf\u65e5\u5143\uff08\u7ea6350\u4ebf\u7f8e\u5143\uff09\u652f\u6491\u65e5\u5143\u3002\u53e6\u6709\u4e00\u540d\u524d\u65e5\u672c\u5b98\u5458\u8b66\u544a\uff0c\u9ec4\u91d1\u5468\u5047\u671f\u671f\u95f4\u53ef\u80fd\u8fd8\u6709\u8fdb\u4e00\u6b65\u884c\u52a8\u3002<\/p>\n

\u5e72\u9884\u98ce\u9669\u518d\u5ea6\u6210\u4e3a\u7126\u70b9<\/h3>\n

\u8d22\u52a1\u5927\u81e3Satsuki Katayama\u672c\u5468\u91cd\u7533\uff0c\u4e1c\u4eac\u5c06\u5bf9\u201c\u6295\u673a\u6027\u5356\u51fa\u65e5\u5143\u201d\uff08speculative Yen selling\uff0c\u6307\u77ed\u7ebf\u8d44\u91d1\u62bc\u6ce8\u65e5\u5143\u8d70\u5f31\u5e76\u96c6\u4e2d\u629b\u552e\uff09\u91c7\u53d6\u884c\u52a8\u3002\u5979\u5728\u4e4c\u5179\u522b\u514b\u65af\u5766\u4e3e\u884c\u7684\u4e9a\u6d32\u5f00\u53d1\u94f6\u884c\u4f1a\u8bae\u4e0a\u8868\u793a\uff0c\u5c06\u4f9d\u636e\u53bb\u5e74\u4e0e\u7f8e\u56fd\u5171\u540c\u7b7e\u7f72\u7684\u58f0\u660e\u91c7\u53d6\u201c\u679c\u65ad\u63aa\u65bd\u201d\u3002<\/p>\n

\u5e02\u573a\u7126\u70b9\u8f6c\u5411\u6b27\u5143\u533a\u6570\u636e\uff0c\u5305\u62ec\u5fb7\u56fd\u53ca\u6b27\u5143\u533a4\u6708HCOB\u670d\u52a1\u4e1aPMI\u7ec8\u503c\uff0c\u4ee5\u53ca3\u6708PPI\u6570\u636e\u3002PMI\uff08\u91c7\u8d2d\u7ecf\u7406\u4eba\u6307\u6570\uff0c\u7528\u6765\u8861\u91cf\u884c\u4e1a\u666f\u6c14\uff0c50\u4ee5\u4e0a\u4ee3\u8868\u6269\u5f20\uff09\u4e0ePPI\uff08\u751f\u4ea7\u8005\u7269\u4ef7\u6307\u6570\uff0c\u53cd\u6620\u51fa\u5382\u4ef7\u683c\u53d8\u5316\uff0c\u5e38\u7528\u6765\u89c2\u5bdf\u901a\u80c0\u538b\u529b\uff09\u5c06\u5f71\u54cd\u5e02\u573a\u5bf9\u5229\u7387\u7684\u770b\u6cd5\u3002\u65e5\u672c\u65b9\u9762\uff0c\u5468\u56db\u4e9a\u6d32\u65f6\u6bb5\u5c06\u516c\u5e03\u52b3\u52a8\u73b0\u91d1\u6536\u5165\uff08\u53cd\u6620\u5de5\u8d44\u4e0e\u6536\u5165\u53d8\u5316\uff09\u4ee5\u53ca\u65e5\u672c\u592e\u884c\u6700\u65b0\u653f\u7b56\u4f1a\u8bae\u7eaa\u8981\uff08\u4f1a\u8bae\u8bb0\u5f55\uff0c\u7528\u4e8e\u5224\u65ad\u672a\u6765\u653f\u7b56\u65b9\u5411\uff09\u3002<\/p>\n

\u4ece\u98ce\u9669\u89d2\u5ea6\u770b\uff0c\u5f53EUR\/JPY\u63a5\u8fd1195.50\u4e00\u5e26\u65f6\uff0c\u65e5\u672c\u5b98\u65b9\u5e72\u9884\u7684\u53ef\u80fd\u6027\u4f1a\u663e\u5f97\u66f4\u654f\u611f\u3002\u56de\u987e2025\u5e745\u6708\u524d\u540e\uff0c\u5e02\u573a\u66fe\u6000\u7591\u51fa\u73b0\u5e72\u9884\uff0c\u5bfc\u81f4\u8be5\u8d27\u5e01\u5bf9\u5728\u6570\u5c0f\u65f6\u5185\u4e0b\u632b\u7ea6300\u70b9\uff08pips\uff0c\u201c\u70b9\u201d\uff0c\u5916\u6c47\u5e38\u7528\u6700\u5c0f\u53d8\u52a8\u5355\u4f4d\uff1b\u65e5\u5143\u62a5\u4ef7\u901a\u5e380.01\u4e3a1\u70b9\uff09\u3002\u5f53\u524d\u9ad8\u4f4d\u73af\u5883\uff0c\u5bb9\u6613\u89e6\u53d1\u7c7b\u4f3c\u7684\u5feb\u901f\u6025\u8dcc\u3002<\/p>\n

\u56de\u770b2025\u5e74\u7591\u4f3c\u5e72\u9884\u7684\u6570\u636e\uff0c\u8d22\u52a1\u7701\u4f30\u8ba1\u52a8\u7528\u7ea65.48\u4e07\u4ebf\u65e5\u5143\u201c\u62a4\u76d8\u201d\u3002\u8fd9\u8bf4\u660e\u5f53\u5c40\u613f\u610f\u6295\u5165\u5927\u91cf\u8d44\u91d1\u538b\u5236\u4ed6\u4eec\u6240\u79f0\u7684\u201c\u6295\u673a\u6027\u6ce2\u52a8\u201d\u3002\u5bf9\u4ea4\u6613\u5458\u800c\u8a00\uff0c\u8fd9\u7c7b\u5386\u53f2\u6848\u4f8b\u662f\u5f53\u524d\u6700\u91cd\u8981\u7684\u53c2\u8003\u3002<\/p>\n

\u57fa\u672c\u9762\u4ecd\u504f\u5411\u65e5\u5143\u8d70\u5f31\uff0c\u4ee4\u5e02\u573a\u66f4\u7d27\u5f20\u3002\u6240\u8c13\u201c\u5229\u5dee\u201d\uff08interest rate differential\uff0c\u6307\u4e24\u5730\u653f\u7b56\u5229\u7387\u5dee\u8ddd\uff09\u4ecd\u7136\u5f88\u5927\uff1a\u6b27\u6d32\u592e\u884c\uff08ECB\uff09\u653f\u7b56\u5229\u7387\u4e3a3.0%\uff0c\u65e5\u672c\u592e\u884c\u4ec50.5%\u3002\u8f83\u5927\u7684\u5229\u5dee\u4f1a\u9f13\u52b1\u201c\u5957\u606f\u4ea4\u6613\u201d\uff08carry trade\uff0c\u501f\u5165\u4f4e\u5229\u7387\u8d27\u5e01\u5982\u65e5\u5143\uff0c\u6362\u6210\u9ad8\u5229\u7387\u8d27\u5e01\u6295\u8d44\uff0c\u4ece\u800c\u5356\u51fa\u65e5\u5143\uff09\u3002\u6b27\u5143\u533a\u8fd1\u671f\u6838\u5fc3\u901a\u80c0\u7ef4\u6301\u57282.7%\uff08\u6838\u5fc3\u901a\u80c0\u662f\u4e0d\u542b\u98df\u54c1\u4e0e\u80fd\u6e90\u7684\u901a\u80c0\uff0c\u66f4\u80fd\u53cd\u6620\u957f\u671f\u8d8b\u52bf\uff09\uff0c\u610f\u5473\u7740ECB\u964d\u606f\u53ef\u80fd\u66f4\u6162\uff0c\u65e5\u5143\u538b\u529b\u96be\u4ee5\u7f13\u89e3\u3002<\/p>\n

\u671f\u6743\u6ce2\u52a8\u7387\u53ef\u80fd\u4e0a\u5347<\/h3>\n

\u5bf9\u884d\u751f\u54c1\u4ea4\u6613\u8005\u800c\u8a00\uff0c\u8fd9\u4ee3\u8868\u65e5\u5143\u76f8\u5173\u8d27\u5e01\u5bf9\u7684\u201c\u9690\u542b\u6ce2\u52a8\u7387\u201d\uff08implied volatility\uff0c\u671f\u6743\u4ef7\u683c\u4e2d\u53cd\u6620\u5e02\u573a\u672a\u6765\u6ce2\u52a8\u9884\u671f\u7684\u6307\u6807\uff09\u53ef\u80fd\u660e\u663e\u4e0a\u5347\u30022025\u5e74\u5e72\u9884\u671f\u95f4\uff0cUSD\/JPY\u4e00\u4e2a\u6708\u671f\u9690\u542b\u6ce2\u52a8\u7387\u66fe\u4ece\u7ea68%\u8df3\u5347\u81f312%\u4ee5\u4e0a\uff0c\u4f7f\u201c\u671f\u6743\u201d\uff08options\uff0c\u4e00\u79cd\u5728\u672a\u6765\u4ee5\u7ea6\u5b9a\u4ef7\u683c\u4e70\u5356\u7684\u6743\u5229\uff09\u4ef7\u683c\u5927\u6da8\u3002\u7c7b\u4f3c\u7684\u6ce2\u52a8\u7387\u98d9\u5347\u73b0\u5728\u4e5f\u53ef\u80fd\u53d1\u751f\uff0c\u56e0\u6b64\u5728\u6ce2\u52a8\u7387\u8fdb\u4e00\u6b65\u4e0a\u5347\u524d\u5e03\u5c40\u66f4\u5173\u952e\u3002<\/p>\n

\u5728\u8fd9\u79cd\u73af\u5883\u4e0b\uff0c\u4e70\u5165\u4e0b\u884c\u4fdd\u62a4\u53ef\u80fd\u66f4\u7a33\u5065\uff0c\u4f8b\u5982\u4e70\u5165EUR\/JPY\u770b\u8dcc\u671f\u6743\uff08put options\uff0c\u770b\u8dcc\u671f\u6743\uff0c\u6c47\u7387\u4e0b\u8dcc\u65f6\u53ef\u83b7\u76ca\uff09\u3002\u82e5\u6c47\u7387\u56e0\u5e72\u9884\u7a81\u7136\u4e0b\u632b\uff0c\u8fd9\u7c7b\u4ed3\u4f4d\u53ef\u76f4\u63a5\u53d7\u76ca\u3002\u968f\u7740\u5e72\u9884\u62c5\u5fe7\u5347\u6e29\uff0c\u671f\u6743\u6210\u672c\u53ef\u80fd\u7ee7\u7eed\u4e0a\u5347\uff0c\u63d0\u524d\u884c\u52a8\u8005\u66f4\u5360\u4f18\u52bf\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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