Yen Weakness Continues to Dominate Forex Market Sentiment
The dollar to yen currency rate (USD/JPY) rallied close to the highest point seen since around April during trading late last week. This key Forex pair has extended gains previously experienced over November as expectations that the BOJ (Bank of Japan) may need to implement additional and aggressive easing measures brought further yen selling pressure to the fore.
The latest COT report data from the Commodity Futures Trading Commission revealed that market participants, trading futures contracts, have increased the net open Yen short position by over 50%.
Shinzo Abe - the opposition leader who is seen as the current favorite to become the next prime minister of Japan - said in a recent debate that monetary-easing measures needed to be considered, including foreign bonds purchases, which would have an impact on the markets. This is the latest in a series of comments expressing a desire to weaken the Japanese yen from Abe.
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The dollar to yen currency rate (USD/JPY) rallied close to the highest point seen since around April during trading late last week. This key Forex pair has extended gains previously experienced over November as expectations that the BOJ (Bank of Japan) may need to implement additional and aggressive easing measures brought further yen selling pressure to the fore.
The latest COT report data from the Commodity Futures Trading Commission revealed that market participants, trading futures contracts, have increased the net open Yen short position by over 50%.
Shinzo Abe - the opposition leader who is seen as the current favorite to become the next prime minister of Japan - said in a recent debate that monetary-easing measures needed to be considered, including foreign bonds purchases, which would have an impact on the markets. This is the latest in a series of comments expressing a desire to weaken the Japanese yen from Abe.
Read Full Article>>>