Hedge funds and long-term investors are reentering trades looking for the yen to rally ahead of potential currency talks this week between the United States and Japan.
Finance Minister Katsunobu Kato said on Friday he will seek an opportunity for currency talks with his U.S. counterpart, Scott Bessent, this week, amid speculation that U.S. President Donald Trump’s administration is open to a weaker greenback.
Several Asian currencies, including the yen, rallied last week on news that the U.S. and South Korea discussed currency issues during trade talks earlier this month.
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