ADIV - Is The Dramatic Yen Short Squeeze Over?
2024-07-26 06:56:00 ET
Summary
- The powerful yen short squeeze that has roiled the capital market this week has stalled today.
- It is the first day this week that the dollar has not fallen below the previous day's low and has risen, though slightly, above previous session's high.
- The Antipodeans and Scandis are trading with a firmer bias.
Overview
The powerful yen short squeeze that has roiled the capital market this week has stalled today. It is the first day this week that the dollar has not fallen below the previous day's low and has risen, though slightly, above the previous session's high. The Antipodeans and Scandis are trading with a firmer bias. The yen and Swiss franc are the only two G10 currencies that are not stronger today. The stability of the yen appears to have removed some of the pressure on some emerging market currencies. The Mexican peso is still the heaviest currency this week, but on the day, it is the best of the emerging market complex, with the South African rand slightly behind it....
Is The Dramatic Yen Short Squeeze Over?