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Hedge funds cut bearish yen bets after US-Japan intervention
The reduction reverses a large build-up in yen short positions earlier this summer, as coordinated US and Japanese efforts aimed to stabilize the currency.
Hedge funds have reduced their bearish exposure to the Japanese yen after coordinated efforts by US and Japanese officials to help stabilize the currency, according to reporting cited by Hedgeweek.
The move follows a reversal of a large build-up in short positions earlier this summer, with investors trimming those yen shorts after the intervention efforts.
The changes reflect how fast currency moves and policy actions can shift risk appetite for hedge fund strategies tied to FX positioning, Hedgeweek said, citing Bloomberg.