Buy side scales back on yen positions as volume dips
Currency managers and corporates have scaled back their positions in the yen, having piled into the currency during the first quarter as the Japanese currency continued to depreciate after a sustained period of strength in recent years.
Having risen sharply at the start of this year, USD/JPY fell back to 94 in mid-June and has since remained within a comparatively tight range, trading at 97.42 earlier today, according to Thomson Reuters. A fall in trading volume on key platforms such as EBS
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