Big Short on Treasuries Spills Over to Yen as Hedge Funds Pounce

Bearishness toward U.S. Treasuries surged to a record last week. That has given traders confidence to take on a new target: the yen. Strategists from London to Tokyo are saying the haven currency’s decline may have just begun, with rising Treasury yields and improving global growth giving traders encouragement to push the yen down to 110 per dollar. Hedge funds have ramped up bearish bets on the currency to the highest level in a year. “There’s still more scope for U.S. yields to climb so dollar-yen could reach 110 as early as the end of March,” said Masafumi Yamamoto, chief currency strategist at Mizuho … (full story)

Let's Have A Chat ​

OPEN ACCOUNT

please, upload jpg, jpeg, png or pdf files only