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Beers & Burgers: Harvey's To Go | SaltWire #harveys #burger #beer #foodbloggerORLANDO, Florida - Hedge funds have built up their biggest bet against the yen in 17 years, raising the prospect that when Japan's embattled currency does rebound from its 34-year low against the dollar, the short-covering rally could be a powerful one.
As the threat of yen-buying intervention from Tokyo rises the higher dollar/yen goes, and with the potential for safe-haven demand following the latest flare-up in Middle East tensions suddenly in the mix too, traders short of yen will be on edge. A long position is essentially a bet that an asset will rise in value, and a short position is a wager its price will fall.
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