日央行加息至30年高 日圓不升反跌|日圓拆倉潮不見蹤影 套利交易為何持續?|日債進一步下挫 日央行何時再加息? #日本央行 #日圓 #拆倉潮 #套利交易 #美元兌日圓 #外匯 #植田和男 #日本經濟

Ken Cheung 外匯策略 December 20, 2025
Video Thumbnail
Ken Cheung 外匯策略 Logo

Ken Cheung 外匯策略

View Channel

About

張建泰(Ken Cheung)在企業及投資銀行從事外匯及宏觀分析工作超過12年,曾任職首席亞洲外匯策略師,並定期接受本地及海外媒體訪問,包括Bloomberg、Retuers及CNBC,以及《信報》及《經濟日報》,發表精闢獨到的匯市觀點,在Bloomberg上的個人檔案搜索頁面紀錄多達116頁。 Ken畢業於香港中文大學經濟系,取得學士及研究碩士學位,並在2012年獲得特許金融分析師(CFA)專業資格。 如果你有興趣收聽更多專業的匯市分析,了解宏觀局勢的發展,避開投資市場的陷阱,誠意邀請你訂閱。 28/10/2025: 訂閱+1000 聯絡合作、專業諮詢:請電郵 [email protected] LinkedIn: https://www.linkedin.com/in/kencheungkt/ 免責聲明: 本頻道及所有影片中提供的資訊僅供一般參考,只供學習交流用途,並不構成任何投資建議或投資活動的邀約。建議觀眾在做出任何投資或財務決策之前,進行獨立研究並適當諮詢合格的專家意見,例如財務顧問或法律顧問。

Video Description

日本央行時隔近一年再度加息0.25厘,將利率推升至0.75%,創下1995年以來的30年新高!📈 但為何金融市場異常平靜?之前專家擔心的「日圓拆倉潮」為何沒有發生?本次加息是否意味著持續30年的全球「便宜日圓」時代正式終結? 第一部分:議息會議三大重點解讀 ‣ 為何本次加息「符合預期」卻意義重大? ‣ 日本央行會後聲明的「潛台詞」是什麼? ‣ 行長植田和男為何避談「中性利率」與下次加息時間? 第二部分:全球市場最關心的「日圓拆倉潮」分析 ‣ 什麼是「日圓套利交易」?它如何影響全球資產價格? ‣ 利率升至0.75%,為何還不足以觸發大規模拆倉? ‣ 關鍵比較:本次「慢火加息」與2024年7月「快速加息」的市場環境有何不同? ‣ 觸發全球日圓拆倉潮的真正條件是什麼? 第三部分:未來日圓走勢與核心風險預警 ‣ 美元兌日圓未來一年主要波動區間預測 ‣ 日本財政部的「口頭干預」與「實際干預」底線何在? ‣ 最大隱患: 日本債市(JGB)是否存在「爆煲」風險?會否引發股、匯、債三殺? ‣ 兩種情境推演:日本央行在什麼情況下會被迫「加速加息」? ===== 00:00 開場:日本央行加息至30年新高 01:02 第一部分:解讀本次議息會議三大重點 03:20 第二部分:深度分析「日圓拆倉潮」為何未出現 04:19 什麼是「日圓套利交易」? 06:23 拆倉的關鍵:市場預期與日圓升值風險 08:41 關鍵比較:2024年7月快速加息 vs. 本次慢火加息 10:52 第三部分:未來日圓走勢與核心風險預警 13:50 可能迫使日本央行「加速加息」的情境 #日本央行 #加息 #日圓 #拆倉潮 #套利交易 #美元兌日圓 #外匯分析 #植田和男 #日本經濟 #貨幣政策 #聯儲局 #減息 #債市風險 #投資教學 #財經分析 #boj #jpy #usdjpy #carrytrade #ueda

You May Also Like

Upgrade Your Everyday

AI-recommended products based on this video

Loading...
Kasa Smart Outdoor Smart Plug by TP-Link (KP400) - Smart WiFi Outlet with 2 Sockets, IP64 Waterproof, Works with Alexa and Google Home, 2.4GHz WiFi Required, No Hub Required, Sunset & Sunrise Offset

Kasa Smart Outdoor Smart Plug by TP-Link (KP400) - Smart WiFi Outlet with 2 Sockets, IP64 Waterproof, Works with Alexa and Google Home, 2.4GHz WiFi Required, No Hub Required, Sunset & Sunrise Offset

(28,846)
$21.99$17.99
FREE delivery Wed, Aug 20 on your first order
1K+ bought in past month
Loading...
Wireless Earbuds, Sports Bluetooth Headphones, 80Hrs Playtime Ear Buds with LED Power Display, Noise Canceling Headset, IPX7 Waterproof Earphones for Workout/Running(Black)

Wireless Earbuds, Sports Bluetooth Headphones, 80Hrs Playtime Ear Buds with LED Power Display, Noise Canceling Headset, IPX7 Waterproof Earphones for Workout/Running(Black)

(299)
$32.99
Prime
Loading...
Wireless Earbuds, Bluetooth 5.4 Headphones HiFi Stereo with 4 HD Mic, 50H Playtime Bluetooth Earbuds with LED Display, IPX7 Waterproof Wireless Earphones, Touch Control Ear Buds,USB-C White

Wireless Earbuds, Bluetooth 5.4 Headphones HiFi Stereo with 4 HD Mic, 50H Playtime Bluetooth Earbuds with LED Display, IPX7 Waterproof Wireless Earphones, Touch Control Ear Buds,USB-C White

(228)
$26.99
Prime
Loading...
Wireless Earbuds, Bluetooth Ear Buds 5.4 Mini HiFi Stereo with 4 ENC Noise Cancelling Mics Wireless Headphones, in Ear Earphones 40H IP7 Waterproof, USB C, Bluetooth Earbuds for Sports, Gym, Rose

Wireless Earbuds, Bluetooth Ear Buds 5.4 Mini HiFi Stereo with 4 ENC Noise Cancelling Mics Wireless Headphones, in Ear Earphones 40H IP7 Waterproof, USB C, Bluetooth Earbuds for Sports, Gym, Rose

(323)
$31.99
FREE delivery Wed, Dec 3 on your first order
500+ bought in past month
Loading...
soundcore P31i by Anker, Real-Time Adaptive Noise Cancelling, Hi-Res Sound, Translation Earbuds, 50H Playtime, Wireless Earbuds, Bluetooth Earphones, Spatial Audio, Fast Charging, IP55 ClimatePartner certified

soundcore P31i by Anker, Real-Time Adaptive Noise Cancelling, Hi-Res Sound, Translation Earbuds, 50H Playtime, Wireless Earbuds, Bluetooth Earphones, Spatial Audio, Fast Charging, IP55 ClimatePartner certified

(105)
$39.99
FREE delivery Thu, Nov 27
Loading...
Brita Stainless Steel Premium Filtering Water Bottle, BPA-Free, Reusable, Insulated, Replaces 300 Plastic Water Bottles, Filter Lasts 2 Months or 40 Gallons, Includes 1 Filter, Carbon - 20 oz.

Brita Stainless Steel Premium Filtering Water Bottle, BPA-Free, Reusable, Insulated, Replaces 300 Plastic Water Bottles, Filter Lasts 2 Months or 40 Gallons, Includes 1 Filter, Carbon - 20 oz.

(2,652)
$81.37$76.36
FREE delivery Sep 29 - Oct 2
Loading...
Simple Modern Filtered Water Bottle | Insulated Stainless-Steel Carbon Filter Travel Water Bottles | Reusable for Clean Drinking Water On The Go | 24oz, Sea Glass Sage

Simple Modern Filtered Water Bottle | Insulated Stainless-Steel Carbon Filter Travel Water Bottles | Reusable for Clean Drinking Water On The Go | 24oz, Sea Glass Sage

(26)
$30.13
FREE delivery Tue, Sep 23 on your first order
Loading...
FITVII Health & Fitness Tracker (Answer/Make Calls), Smart Watch with 24/7 Heart Rate and Blood Pressure, Sleep Tracking Monitor, 120+ Sport Mode Activity Tracker

FITVII Health & Fitness Tracker (Answer/Make Calls), Smart Watch with 24/7 Heart Rate and Blood Pressure, Sleep Tracking Monitor, 120+ Sport Mode Activity Tracker

(198)
$59.99
FREE delivery Sun, Aug 10
100+ bought in past month
Loading...
AYATAHA AYATAHA Smart Watch for Kids, Smartwatch Fitness Tracker for Boys Girls, Children's Activity Watch 37 Sports Modes SMS Notification, HD Full Touchscreen IP67 Waterproof, Blue

AYATAHA AYATAHA Smart Watch for Kids, Smartwatch Fitness Tracker for Boys Girls, Children's Activity Watch 37 Sports Modes SMS Notification, HD Full Touchscreen IP67 Waterproof, Blue

(55)
$41.99
PrimeFREE delivery Sat, Jun 14
Loading...
Iaret Iaret Smart Watch for Women, 1.83" HD Fitness Tracker with 4 Bands, Answer/Make Calls, Heart Rate/Sleep/SpO2/Step Tracking, 100+ Sport Modes, Android/iPhone Compatible Gift (Rose Gold)

Iaret Iaret Smart Watch for Women, 1.83" HD Fitness Tracker with 4 Bands, Answer/Make Calls, Heart Rate/Sleep/SpO2/Step Tracking, 100+ Sport Modes, Android/iPhone Compatible Gift (Rose Gold)

(42)
$59.99
FREE delivery Thu, Jun 19
100+ bought in past month
Loading...
Smart Watch for Men Women 1.8" Fitness Tracker, Bluetooth Call, DIY Dial, Heart Rate Sleep Blood Oxygen Monitor, 100+ Sports Modes, IP68 Waterproof Smartwatch for Android iPhone, Alexa Built-in

Smart Watch for Men Women 1.8" Fitness Tracker, Bluetooth Call, DIY Dial, Heart Rate Sleep Blood Oxygen Monitor, 100+ Sports Modes, IP68 Waterproof Smartwatch for Android iPhone, Alexa Built-in

(980)
$39.99
FREE delivery Sun, Sep 21
300+ bought in past month
Loading...
Hand Warmers 2 Pack, 14000mAh Rechargeable Hand Warmers, Electric Hand Warmer Reusable, Portable Power Bank USB Hand Warmers 4 Levels 8 Heating, Gifts for Raynauds Ski Golf Camping

Hand Warmers 2 Pack, 14000mAh Rechargeable Hand Warmers, Electric Hand Warmer Reusable, Portable Power Bank USB Hand Warmers 4 Levels 8 Heating, Gifts for Raynauds Ski Golf Camping

(683)
$74.08$59.47
FREE delivery Jun 13 - 18
Loading...
Hand Warmers Rechargeable, 10000mAh Electric Heated Gloves Power Bank Portable Graphene Handwarmers Pouch with 3 Levels & Double-Sided Heating for Hunting Camping Golf Xmas Gifts for Women Men Kids

Hand Warmers Rechargeable, 10000mAh Electric Heated Gloves Power Bank Portable Graphene Handwarmers Pouch with 3 Levels & Double-Sided Heating for Hunting Camping Golf Xmas Gifts for Women Men Kids

(651)
$44.99
PrimeFREE delivery Sun, Jun 15
Loading...
2Pack Rechargeable Hand Warmer, 8000mAh Electric Hand Warmer Power Bank, Portable USB-C Hand Warmer for Pocket, Reusable Hand Warmer Up to 8 hrs Each, Warm Gift for Men Women, for Hunting, Camping
Amazon's Choice

2Pack Rechargeable Hand Warmer, 8000mAh Electric Hand Warmer Power Bank, Portable USB-C Hand Warmer for Pocket, Reusable Hand Warmer Up to 8 hrs Each, Warm Gift for Men Women, for Hunting, Camping

(1,128)
$15.99
FREE delivery Sat, Jun 14 on your first order
Loading...
GTOCE Portable Charger,40000mAh Power Bank with 22.5W Fast Charging LED Digital Display Battery Pack with 6 Outputs 2 Inputs, Type C Powerbank Portable Charger for iPhone 16 pro Samsung AirPods,Black

GTOCE Portable Charger,40000mAh Power Bank with 22.5W Fast Charging LED Digital Display Battery Pack with 6 Outputs 2 Inputs, Type C Powerbank Portable Charger for iPhone 16 pro Samsung AirPods,Black

(334)
$42.99
FREE delivery Thu, Oct 16
1K+ bought in past month
Loading...
YMZ Smart Watch for Men Women, IP68 Waterproof, Bluetooth Calling, Fitness Tracker, Sleep Monitoring, 1.85'' DIY Dial, AI Built-in, 100+ Sports Modes, 7 Days Battery, Compatible with Android & iPhones

YMZ Smart Watch for Men Women, IP68 Waterproof, Bluetooth Calling, Fitness Tracker, Sleep Monitoring, 1.85'' DIY Dial, AI Built-in, 100+ Sports Modes, 7 Days Battery, Compatible with Android & iPhones

(331)
$49.99
FREE delivery Thu, Jun 19
1K+ bought in past month
Loading...
Smart Watch for Men Women 1.8" Fitness Tracker, Bluetooth Call, DIY Dial, Heart Rate Sleep Blood Oxygen Monitor, 100+ Sports Modes, IP68 Waterproof Smartwatch for Android iPhone, Alexa Built-in

Smart Watch for Men Women 1.8" Fitness Tracker, Bluetooth Call, DIY Dial, Heart Rate Sleep Blood Oxygen Monitor, 100+ Sports Modes, IP68 Waterproof Smartwatch for Android iPhone, Alexa Built-in

(980)
$39.99
FREE delivery Sun, Sep 21
300+ bought in past month
Loading...
Smart Watch for Men Women with Bluetooth Call, Alexa Built-in, Heart Rate & Sleep Monitor, 1.83" DIY Dial Fitness Watch with 100+ Sport Modes, IP68 Waterproof, Compatible with Android iOS

Smart Watch for Men Women with Bluetooth Call, Alexa Built-in, Heart Rate & Sleep Monitor, 1.83" DIY Dial Fitness Watch with 100+ Sport Modes, IP68 Waterproof, Compatible with Android iOS

(182)
$49.99
FREE delivery Fri, Oct 31
2K+ bought in past month
Loading...
Smart Watch for Men Women with Bluetooth Call, Alexa Built-in, Heart Rate & Sleep Monitor, 1.83" DIY Dial Fitness Watch with 100+ Sport Modes, IP68 Waterproof, Compatible with Android iOS
Best Seller

Smart Watch for Men Women with Bluetooth Call, Alexa Built-in, Heart Rate & Sleep Monitor, 1.83" DIY Dial Fitness Watch with 100+ Sport Modes, IP68 Waterproof, Compatible with Android iOS

(142)
$44.99
FREE delivery Tue, Oct 21
Loading...
Hydroponics Growing System Indoor Garden - Herb Garden with Grow Light, 15 Pods Stainless Steel Indoor Garden Kit, Auto Timer, Gardening Gift for All Ages

Hydroponics Growing System Indoor Garden - Herb Garden with Grow Light, 15 Pods Stainless Steel Indoor Garden Kit, Auto Timer, Gardening Gift for All Ages

(24)
$206.57$200.61
FREE delivery Jun 13 - 17
Loading...
Umbra Triflora Hanging Planter for Window, Indoor Herb Garden, Set of 5, White/Black

Umbra Triflora Hanging Planter for Window, Indoor Herb Garden, Set of 5, White/Black

(7,808)
$71.52
PrimeFREE delivery Sat, Jun 14
Loading...
Large Hydroponics Growing System 14 Pods, Indoor Herb Garden with LED Grow Light, 5L Water Tank, Hydroponic Grow Kit with 3 Auto-Timers, Rotatable Light Panel and Child Lock for Home School Gardening

Large Hydroponics Growing System 14 Pods, Indoor Herb Garden with LED Grow Light, 5L Water Tank, Hydroponic Grow Kit with 3 Auto-Timers, Rotatable Light Panel and Child Lock for Home School Gardening

(119)
$167.81
FREE delivery Jun 16 - 20
Loading...
Hanging Planter Hanging Plant Holder, 6 Inch 4 Indoor Plant Pots, Wall/Window Plant Hanger Indoor Herb Garden

Hanging Planter Hanging Plant Holder, 6 Inch 4 Indoor Plant Pots, Wall/Window Plant Hanger Indoor Herb Garden

(269)
$35.99$28.90
PrimeFREE delivery Sat, Jun 14
Loading...
Ninja Air Fryer Pro 5-in-1, 5 QT Capacity, Air Fry, Bake, Roast, Reheat, and Dehydrate, Air Crisp Technology, Nonstick Basket & Crisper Plate, Grey, AF142C

Ninja Air Fryer Pro 5-in-1, 5 QT Capacity, Air Fry, Bake, Roast, Reheat, and Dehydrate, Air Crisp Technology, Nonstick Basket & Crisper Plate, Grey, AF142C

(650)
$100.99
FREE delivery Thu, Oct 16
500+ bought in past month
Loading...
Glass Oil Sprayer for Cooking, 180ml Olive Oil Sprayer Bottle with Brush, Olive Oil Spray Mister, Kitchen Gadgets Accessories for Air Fryer, Canola Oil Spritzer (GREY)

Glass Oil Sprayer for Cooking, 180ml Olive Oil Sprayer Bottle with Brush, Olive Oil Spray Mister, Kitchen Gadgets Accessories for Air Fryer, Canola Oil Spritzer (GREY)

(2,436)
$7.99
FREE delivery Mon, Jun 16 on your first order
Loading...
Hi.FANCY Portable Laptop Stand with Dual Cooling Fans for 14-17inch Laptops, Grey, 23.5 x 25.9 x 0.95cm

Hi.FANCY Portable Laptop Stand with Dual Cooling Fans for 14-17inch Laptops, Grey, 23.5 x 25.9 x 0.95cm

(0)
$36.99
FREE delivery Aug 18 - 28
Loading...
Laptop Stand for Desk, Adjustable Laptop Riser ABS+Silicone Foldable Portable Laptop Holder, Ventilated Cooling Notebook Stand for 10-15.6” Laptops,Tablet-Black

Laptop Stand for Desk, Adjustable Laptop Riser ABS+Silicone Foldable Portable Laptop Holder, Ventilated Cooling Notebook Stand for 10-15.6” Laptops,Tablet-Black

(11,679)
$14.99
FREE delivery Sat, Jun 14 on your first order
500+ bought in past month
Loading...
JETech 5 in 1 Case for Samsung Galaxy S25 Ultra 5G with 2-Pack Each Tempered Glass Screen Protector and Camera Lens Protector, Non-Yellowing Shockproof Bumper Phone Cover (Clear)

JETech 5 in 1 Case for Samsung Galaxy S25 Ultra 5G with 2-Pack Each Tempered Glass Screen Protector and Camera Lens Protector, Non-Yellowing Shockproof Bumper Phone Cover (Clear)

(197)
$15.99
FREE delivery Sat, Jun 14 on your first order
100+ bought in past month
Loading...
TAURI for iPhone 17 Pro Max Case 6.9" with 1-Pack Screen Protector, Camera Lens Full Protection, Military-Grade Protection, Shockproof Transparent Back Bumper Phone Cover - Clear Global Recycled Standard

TAURI for iPhone 17 Pro Max Case 6.9" with 1-Pack Screen Protector, Camera Lens Full Protection, Military-Grade Protection, Shockproof Transparent Back Bumper Phone Cover - Clear Global Recycled Standard

(0)
$10.76
FREE delivery Thu, Oct 16 on your first order
2K+ bought in past month
Loading...
TAURI for iPhone 17 Pro Case 6.3" with 1-Pack Screen Protector, Camera Lens Full Protection, Military-Grade Protection, Shockproof Transparent Back Bumper Phone Cover - Clear Global Recycled Standard
Best Seller

TAURI for iPhone 17 Pro Case 6.3" with 1-Pack Screen Protector, Camera Lens Full Protection, Military-Grade Protection, Shockproof Transparent Back Bumper Phone Cover - Clear Global Recycled Standard

(61,696)
$10.76
Prime
2K+ bought in past month
Loading...
JOINPAYA 1Set Rechargeable Hand Warmer Hand Heater for Winter Heating Levels Compact

JOINPAYA 1Set Rechargeable Hand Warmer Hand Heater for Winter Heating Levels Compact

(0)
$9.29
FREE delivery Jun 20 - Jul 4
Loading...
Shakven Rechargeable Hand Warmer | Cute Comfortable Portable Hand Warmers,Ergonomic Adjustable Energy-Efficient Small Heater for Travel, Outdoor, Winter

Shakven Rechargeable Hand Warmer | Cute Comfortable Portable Hand Warmers,Ergonomic Adjustable Energy-Efficient Small Heater for Travel, Outdoor, Winter

(0)
$26.93
FREE delivery Jun 19 - Jul 2
Loading...
OCOOPA IP45 Waterproof Hand Warmer Rechargeable, Up to 15hrs Heat,10000mAh Durable Quick Charge Electric Hand Heater, PD Compatible, 3 Levels for Outdoors, Heavy Duty, H01-PD PRO

OCOOPA IP45 Waterproof Hand Warmer Rechargeable, Up to 15hrs Heat,10000mAh Durable Quick Charge Electric Hand Heater, PD Compatible, 3 Levels for Outdoors, Heavy Duty, H01-PD PRO

(50)
$39.99
PrimeFREE delivery Sat, Jun 14
Loading...
OCOOPA IP45 Waterproof Hand Warmer Rechargeable, Up to 15hrs Heat,10000mAh Durable Quick Charge Electric Hand Heater, PD Compatible, 3 Levels for Outdoors, Heavy Duty, H01-PD PRO

OCOOPA IP45 Waterproof Hand Warmer Rechargeable, Up to 15hrs Heat,10000mAh Durable Quick Charge Electric Hand Heater, PD Compatible, 3 Levels for Outdoors, Heavy Duty, H01-PD PRO

(649)
$39.99
PrimeFREE delivery Sat, Jun 14