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Daily FX interest? Double counted?


chantellouise

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@loke1996 & @chantellouise,  hopefully someone from IG will comment but this one comes around every year at this time. During Japan's 'Golden Week' holiday JPY banks do not exchange (as at weekends), this year is exacerbated by the crowning of the new Emperor causing a 10 day shutdown. There are threads on the forum from years past with more specific info but a quick search didn't find them, I'll look again when I have more time.

https://www.reuters.com/article/us-japan-markets-emperor/japans-10-day-holiday-stirs-concern-in-traders-and-investors-idUSKCN1PO071

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Guest DanielaIG

Hi @loke1996 and @chantellouise,

 

as @Caseynotes has pointed out, this is due to Japan's Golden Week and new EMperor Crowning where markets will be closed for 10 days, which means that all JPY crosses were charged 11 days of overnight funding on Wednesday  (charged on Tuesday for AUDJPY and NZDJPY due to ANZAC holiday). 

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