Reported 8 months ago
As the Japanese yen depreciates to the authorities' warning threshold, the likelihood of Japan's intervention increases, prompting a group of Japanese retail investors to bet on the yen's exchange rate rebound. Data from the Tokyo Financial Exchange (TFX) showed an increase in bullish positions betting on the yen strengthening against the US dollar since mid-May, mainly through futures contracts catering to Japanese retail investors. With Japan's intervention in the currency market in April and May, some investors suffered heavy losses while others made profits of millions of yen. The government's recent record-breaking intervention of 9.8 trillion yen to support the yen has spurred retail investors to act eagerly. Despite being on the US Treasury Department's 'monitoring list' for currency manipulation, Japan's Vice Minister of Finance for International Affairs, Manabu Kanda, assures that Japan will continue to take appropriate measures to address excessive volatility in the yen exchange rate, likely encouraging retail investors like Kawane to make moves.
Source: YAHOO