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11 May 2015
JPY net shorts increase after two weeks – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, explains that USD/JPY trades rudderless, with FX positioning data showing an increase in JPY net shorts.
Key Quotes
“USD-JPY may remain in lock down mode with background dollar vulnerability balanced by still sanguine investor appetite (not least from the latest rate cuts out of China).”
“On the CFTC front, net leveraged JPY shorts were increased in the latest week after declining in the previous two weeks. However, note that rate differentials have moved in favor of the JPY in the past week, leaving the pair ultimately rudderless.”
Key Quotes
“USD-JPY may remain in lock down mode with background dollar vulnerability balanced by still sanguine investor appetite (not least from the latest rate cuts out of China).”
“On the CFTC front, net leveraged JPY shorts were increased in the latest week after declining in the previous two weeks. However, note that rate differentials have moved in favor of the JPY in the past week, leaving the pair ultimately rudderless.”