Reported 22 days ago
Japanese foreign-exchange margin traders are reversing their long yen positions as the currency crosses the critical level of 140 yen per dollar for the first time in a year. As the yen rallied, net-long positions against the dollar dropped to a four-month low, while positions for buying dollars and selling yen increased significantly, prompting traders to react to the recent currency movement. With expectations of a continued yen appreciation and a divergence in monetary policies between Japan and the US, risks remain for those who may have sold yen to cut losses.
Source: YAHOO