I got a call at the end of coffee time and I couldn’t ask my question. If the Fed holds nominal rates steady but U.S. inflation expectations rise—lowering U.S. real rates—while Japan's BOJ hikes slowly as Japanese inflation expectations stabilize, could the real interest rate gap between the U.S. and Japan narrow enough to support a long-yen thesis? Or does the nominal rate differential still dominate currency moves in your view? Thanks for your time Simon, great coffee time.

https://x.com/firstsquawk/status/2038778842333208640?s=52&t=u1X3p2vKD90ejejT8Cs1tA

Thank you for webinar Simon. This app is great. I will of course give credit. No promise but I will also try to drum up more business for you as well if you are okay. Thanks so much.