There are few FX industry aficionados interested in the Japanese foreign exchange market who are not familiar with the outstanding communication tone of Mr. Eisuke Sakakibara. He has been at the forefront of English speaking Japanese economists frequently appearing on Western media, commenting on the state of the Japanese economy and regularly expressing his views on the yen. Best of all – he will be joining live the Forex Magnates’ Tokyo Summit 2014.
Forex Magnates is pleased to announce that this long renowned expert will be joining our Tokyo Summit on the first day, July 29th and will be delivering a keynote address. One can certainly bet that Mr. Yen will dedicate enough time to answer the vast array of questions which will rain in from Forex industry professionals after his speech.
The first day of the agenda is starting with a panel discussion on “Marketing in Japan and Beyond”, where top FX industry professionals will discuss what the best approaches are towards the Japanese market and will share their tactics on how to succeed in on-boarding clients, as well as expansionary strategies for local brokerages to the Western markets.
After Mr. Sakakibara’s keynote address the second panel of the day will feature leading CEOs of already widely successful companies which are solidly established on the local foreign exchange market. The heads of the largest Japanese brokerages will explain and discuss how they’ve managed to win market share in the Japanese FX market and present tips on how to deal with the difficult times of lower volatility.
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His moniker “Mr. Yen” was crafted when he became Vice Minister of Finance and was responsible for the intervention policies which the Japanese government had to embark on at the time. Regularly jawboning the Japanese currency and attracting the attention of FX market traders, in July Mr. Sakakibara will be attending the most important Forex industry event on the Japanese foreign exchange market scene.
Mr. Sakakibara has been particularly notorious for being responsible for the intervention operations by the Japanese Ministry of Finance back in the 90s. Mr Yen’s tactics were distinctly different from those used by his predecessors and quite effective too. He preferred volume to frequency, hence during his time in office at the Ministry of Finance he managed to change the market’s mind several times to alleviate alleged mismatches between fundamentals and traders’ market sentiment and deliver the results desired by Japanese authorities.
Mr. Yen’s financial celebrity nickname forcefully convinced spooked FX traders into driving the Japanese yen lower at the time. In a way, Mr. Sakakibara was the pioneer of the most sophisticated currency intervention effort which the currency markets had seen until then. The Japanese Ministry of Finance certainly left its footprint on the minds and the nerves of FX traders at the time, and Mr. Yen’s efforts have been mentioned by foreign exchange market participants over the past years.