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Yen bullish bets at 4-year high before BOJ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - Hedge funds and other large speculators increased net futures positions that profit from yen gains versus the dollar to 37,653 contracts as of Jan. 19, the most since February 2012, according to Commodity Futures Trading Commission data (CFTC).

    The yen also regained lost momentum versus the greenback after Bank of Japan (BOJ) Governor Kuroda’s speech at Davos last week showed little intent for immediate easing at its policy review meeting this week.

    Kuroda noted on Jan. 22 in Davos that “at this stage, we don’t think the current market situation has been affecting corporate behavior unduly.”

    Meanwhile, USD/JPY remains offered near 118.70 region, having failed several attempts to regain 119 handle.
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