Volatility hits Japanese traders
TOKYO - High levels of foreign exchange volatility are likely to deter Japanese margin traders from re-building the significant levels of short yen positions unwound in the third quarter last year, according to JP Morgan.
Analysts at the US bank said these traders unwound about ¥6 trillion ($67 billion) worth of short yen positions against the US dollar, euro, sterling, and the Australian and New Zealand dollars between September and December 2008. The positions were unwound to curb losses from
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