Mrs. Watanabe Explained

Mrs. Watanabe, also known as Kimono Trader,[1] is a term that gained prominence in the early 2000s, representing a stereotype associated with Japanese retail currency-market traders. These individuals became notable for their active participation in currency trading (Forex), which had a significant impact on global currency markets and garnered attention on a worldwide scale.[2] [3] [4] [5] [6] [7]

The term Mrs. Watanabe was used as early as the 1980s, although a 1997 reference in The Economist became well-known.[8] [9] is a common surname in Japan, but not the most common.[10] Despite the "Mrs." honorific, about 85% of the retail currency traders in Japan as of 2019 are male, mostly in their 30s, 40s and 50s.[11] Gearoid Reidy of Bloomberg News concluded after research that "Mrs. Watanabe"'s meaning changed over time from a Japanese equivalent of Joe Sixpack or Joe Bloggs to specifically referring to FX traders.

Due to the low interest rates in Japan, traders can borrow a large quantity of yen with a margin account, and use it to buy currencies from economies where interest rates are much higher (e.g. Turkish lira, Mexican peso, and South African rand), a carry trade.

Notes and References

  1. Web site: 着物トレーダー . ifinance.ne.jp . 2024-05-31 . ja.
  2. Web site: Mrs. Watanabe had a change of heart in 2022: Bank of Japan report. Nikkei Asia. 13 October 2023.
  3. Web site: Mrs. Watanabe - Japanese Housewife Who Beat the Forex Market. FXCL Markets Ltd.. 13 October 2023.
  4. Web site: Fortune Seekers | Planet Finance (3/6). 13 October 2023. www.youtube.com.
  5. Web site: How Japanese Housewives Outsmarted Global Finance (Documentary). 13 October 2023. www.youtube.com.
  6. Web site: Finally, Mrs Watanabe loosens her purse strings. Ansuya. Harjani. 27 June 2014. CNBC. 13 October 2023.
  7. Web site: The fabled Mrs Watanabe of Japan and a few lessons to take from her. The New Indian Express. 13 October 2023.
  8. News: Reidy . Gearoid . 2024-05-27 . My Search for the Original Mrs. Watanabe . 2024-08-06 . en . Bloomberg.
  9. News: Mrs Watanabe, mind your fingers. 1997-03-27. The Economist. https://web.archive.org/web/20240529074416/https://www.economist.com/finance-and-economics/1997/03/27/mrs-watanabe-mind-your-fingers. 2024-05-29.
  10. Watanabe is the 6th common surname, see .
  11. News: Hodo . Chikafumi . Sakai . Daisuke . Miura . Kazumi . 2019-09-18 . An Army of Japanese Salarymen Is Rocking Global Currency Markets . https://web.archive.org/web/20190918035817/https://www.bloomberg.com/news/articles/2019-09-17/an-army-of-japanese-salarymen-is-rocking-global-currency-markets . 2019-09-18 . Bloomberg.

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