Reuters posted this Thursday on the yen slump.
- But this week's almost 3% drop, without any particular trigger, was enough for some funds to call time on the first leg of their wager that Japan would have to quit its policy of capping bond yields as its global peers push rates higher.
- "We think we are getting close to an inflection point of policy," said BlueBay Asset Management chief investment officer Mark Dowding, especially as inflation starts to pick up.
- "We're not shorting the yen anymore and we're not long," said Akshay Kamboj, co-chief investment officer at hedge fund Crawford Ventures.
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On levels:
- "The big 1998 dollar/yen high at 147.66 ... is the natural target," said Deutsche Bank strategist Alan Ruskin, adding intervention risks would increase as it neared. "It would not be surprising to see substantial yen longs set up on its approach."
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If you'd prefer to trade what you see & not what you think I posted this on warning signs to listen for from Japanese authorities:
Also, this on the barriers at 145:
And, the latest from Japanese authorities.
Japan top currency diplomat: Government, BOJ is extremely worried about recent yen moves
