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Japanese yen advances to a level that threatens this year's big forex short

The resurgent yen has hit a level that has traders wondering if a technical rebound might turn into a rally that derails the forex worldโ€™s favorite short. The Japanese currency climbed more than 1 percent on Friday, rising for a third day in the wake of the US Federal Reserve meeting, as reduced expectations for rate hikes caused hedge funds to cover short bets from one of the biggest global macro trades of the year. The cost to buy one US dollar with the yen has now dropped close to 5 percent...
Akira Moroga Mazen Issa Bank Ltd Aozora Bank Jackson Hole Teppei Ino

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