Not Done With The Yen Yet

(1) Money positions
(2) Ex post headline analysis provides the "reasons" for the public.

Smart money is not done with the Yen yet. A rollover in the Yen will likely mark the next phase in the debt crisis.

Yen (FXY) and the Commercial (C) Less Nonreportable (NR) Traders COT Futures And Options Stochastic Weighted Average of Net Long As A % of Open Interest:


Headline: Safe Haven Yen Jumps, Nears Post-Intervention Levels

The Japanese yen traded sharply higher across the board Monday to within striking distance of levels that immediately followed the coordinated Group of Seven intervention on Mar. 18.

The selloff was prompted by Standard and Poor's, which revised its outlook on the U.S. to negative, prompting traders to scramble for perceived safe havens such as the yen. With U.S. markets under pressure, traders preferred the yen to the dollar.

Source: online.wsj.com