Forex Flash: Toshin: Small net selling continues - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that Japanese retail investors were net sellers of foreign securities via toshins in February for the fourth consecutive month.

He writes, “Toshin momentum remained weak even though JPY weakness and the rise in Japanese equities gathered steam. However, we expect toshin momentum to recover gradually in 2013, as retail investors are likely to be more risk-tolerant. The shift from AUD into EM currencies in the toshin market continued in February.”