Back
4 Mar 2013
Forex Flash: Short JPY holdings will not be easily washed out – RBS
As FX Trading Strategist at RBS Greg Gibbs notes: “Short JPY positions remain one of the most held FX position in the market,” he says, while USD/JPY trades last at 93.37, off fresh session and 4-day highs at 93.70, adding: “But the peak short position reported on the IMM was at end December."
"There has been some consolidation of these positions over the last two months," he expands: "The holders of these positions haven’t been shocked by a major correction, but there have been some gyrations to ensure those holding short JPY are playing for bigger picture and will not be easily washed out,” Greg concludes.
"There has been some consolidation of these positions over the last two months," he expands: "The holders of these positions haven’t been shocked by a major correction, but there have been some gyrations to ensure those holding short JPY are playing for bigger picture and will not be easily washed out,” Greg concludes.