Citi‘s Most Read - Pan Asia

Research evidence excerpt

Citi‘s Most Read - Pan Asia

Roundup |

Citi's Most Read - Pan Asia

June 29 - July 5 06 Jul 2026 06:59:49 ET

ACMacro/Strategy | Sector/Stock Citi Asia Research

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This report presents our most-read research reports over the last 7 days, ordered

based on readership for each of the sections below.

Macro/Strategy

Japan FX - Nobody stopping yen depreciation

That the rise in Japanese interest rates is tapering off should support gains by the

JPY over the longer term, but it would not be surprising if it also dampened the

motivation of the Takaichi government and US authorities to minimize the decline

in the JPY. We now think if the USDJPY exceeds ¥165/$ a second round of

intervention to buy the JPY would be likely. However, visibility is poor in the near

term. The decline in crude prices on Iran ceasefire expectations is good news for

the Japanese authorities, but a risk-on environment in which Japanese equities

remain strong makes it difficult to stop the JPY from depreciating. The direction of

the USDJPY is increasingly dependent upon the external environment.

Osamu Takashima | Daniel Tobon | Brian Levine

Global Gas and Power Insights - American exceptionalism! Exceptional US LNG

exports to continue after cushioning Mideast supply shortfall

Aside from weak Asian LNG demand earlier this year, the kind of strong US LNG

exports, which have capped the global natural gas price rise during the Mideast

conflict, should continue to loosen up LNG and European gas supply-demand

balances over the next 12 to 18 months. Meanwhile, the US gas balance would be

marginally tighter, though still overwhelmed by strong production expected from the

Permian and Haynesville. Thus, looser global gas balances would exert downward