(Bloomberg) -- The yen is facing growing risks it will rebound against the dollar because trader positions betting it will weaken have become stretched...
-- The yen is facing growing risks it will rebound against the dollar because trader positions betting it will weaken have become stretched, reaching record levels.The Fed’s Forecasting Method Looks Increasingly Outdated as Bernanke Pitches an Alternative
“Yen-selling positions have accumulated to high levels because of the investor conviction that monetary policy both in Japan and the US will remain unchanged for the time being,” Koji Fukaya, a fellow at Market Risk Advisory in Tokyo, wrote in a research note. “The yen could rally should weakness in the US economy become pronounced in data, market volatility jump or risk aversion strengthen, all of which are hard to predict.
“The risk of yen appreciation due to unwinding is gradually increasing,” said Hirofumi Suzuki, chief currency strategist at Sumitomo Mitsui Banking Corp. in Tokyo. “But, with the Federal Reserve unlikely to deliver its interest-rate cut anytime soon, it’s hard to see such a position adjustment coming through.”What Really Happens When You Trade In an iPhone at the Apple Store
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