The yen traded at 110.61 per dollar yesterday morning in London after touching 110.97 last week. The currency’s decline has mirrored a selloff in Treasuries, with US 10-year yields jumping around 80 basis points this year
TOKYO: Hedge funds are the most bearish on the yen in more than two years as expectations for the world’s post-pandemic recovery mount.
Futures and options speculators have added to yen shorts for three straight weeks after being long the Japanese currency as recently as a month ago, according to data from the Commodity Futures Trading Commission.
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