2024-07-23 15:00:33 ET
Summary
- The Invesco CurrencyShares Japanese Yen Trust ETF provides exposure to the yen, which has been the worst performing G7 currency for several years.
- Recent changes in BoJ policies and currency interventions may signal a potential turnaround for the yen.
- USD/JPY has broken its trendline and a break back through 152 could signal a significant change in trend.
The Invesco CurrencyShares® Japanese Yen Trust ETF ( FXY ) provides exposure to the yen, which has been the worst performing G7 currency in recent years. The US dollar has gained around 55% against the yen since the 2020 lows, and 2024 has failed to reverse the trend, despite the Bank of Japan's best efforts. Rate hikes, an end to negative rates, and currency intervention haven't been able to halt the decline. ...
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FXY: Yen Exposure In A Time Of Change