Hedge funds are reversing bearish positions on the Japanese yen, ramping up bets on currency strength as the “buy Japan” trade gathers momentum and policymakers reiterate their readiness to intervene in foreign-exchange markets, according to a report by Bloomberg.
The yen steadied on Thursday after extending gains against the US dollar earlier in the session. Japan’s top currency official, Atsushi Mimura, said authorities remain on high alert over FX movements, even as the currency rallied this...
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