Yen shorts fall out of fashion as recessionary fears end year’s hottest forex trade
Three key pillars of the sell-the-yen trade — a widening U.S.-Japan interest-rate gap, soaring oil prices and the loss of the currency’s haven status — are crumbling.
Nikkei closes at two-month high on upbeat earnings and tech shares
The Nikkei average ended up 243.67 points, or 0.87%, from Thursday at 28,175.87, its highest finish since June 9. The broader Topix index finished 16.44 points higher at 1,947.17.
Yen heads for longest rally in six months as fears rise over U.S. growth
Hedge funds are selling down dollar positions and increasingly buying the yen as a haven play.
Yen advances to level that threatens this year’s big foreign exchange short
The Japanese currency climbed more than 1% Friday, rising for a third day in the wake of the U.S. Federal Reserve meeting.
Yen falls to ¥139 against the dollar, marking fresh 24-year low
The yen has been weakening amid expectations of a widening interest rate gap between the United States and Japan. It last dropped to the ¥138 mark against the dollar in September 1998.
The euro is at parity with the dollar. Its fate is now with energy markets.
The single currency has teetered on the brink of parity versus the greenback for days, finally breaching that level on Wednesday.
Now is not the time to intervene over yen, Japan's former forex chief says
The recent moves in the yen don’t reach the level of excessive and disorderly moves that are warned against in existing G7 currency agreements, Mitsuhiro Furusawa said.
As U.S. recession fears mount, Japan widens forex watch to include risk of yen spike
The stance suggests that currency-market intervention is less likely than some investors are expecting.
Takeda and Nintendo among Japanese firms quietly celebrating weak yen
For Takeda Pharmaceutical, Japan's biggest drugmaker, a weaker yen helps because 80% of its sales are overseas, said the firm's CFO.
BOJ ramps up bond buying to defend yield cap, undermining statements
The BOJ expanded bond buying on Tuesday, and offered to increase a round of purchases across the curve on Wednesday.
U.S. keeps Japan on currency monitoring list and warns against intervention
The U.S. Treasury Department said that Japanese foreign exchange intervention should only take place in "very exceptional" cases amid the rapid weakening of the yen against the U.S. dollar.
Japan closer to intervention on yen after government and central bank joint statement
"We have seen sharp yen declines and are concerned about recent currency market moves," the Finance Ministry, BOJ and the Financial Services Agency said in a joint statement.
