Hedge funds turn bearish on yen as currency nears 40-year low, supercharging carry trades - Crypto Briefing
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Hedge funds turn bearish on yen as currency nears 40-year low, supercharging carry trades Crypto Briefing
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Yen stays weak after BoJ hike as analysts eye intervention risk
The Japanese yen remains weak despite the Bank of Japan's recent rate hike, highlighting a deeply entrenched bearish positioning among leveraged funds. As per the full note, analysts indicate that short exposure has significantly increased over the past month, elevating intervention risks as dollar/yen approaches critical levels around 161-162. This backdrop suggests a precarious environment for the yen, especially considering the ongoing carry trade dynamics. Although falling energy prices could provide some relief to Japan's import costs, they further boost global risk appetite, complicating the yen's recovery prospects.
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