Hedge funds reduced short yen bets due to yen's weakening against major currencies.
Hedge funds reduced their short yen bets by the most in over a decade, due to the Japanese yen's weakening against major currencies like the US dollar. Investors have shifted strategies to other markets as the yen's depreciation continues. The recent trend is attributed to Japan's suspected Yen-buying intervention and a possible interest rate hike by the Bank of Japan in its upcoming policy meeting.
July 22, 2024
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