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This article was written by John Benjamin, market analyst at Orbex.com.
The Japanese yen is at it again! Or rather yen speculators to be more precise. It has been an interesting year for yen traders, especially on the USD/JPY currency pair. To put it one way, it has been all about yen speculative positioning versus the Bank of Japan’s monetary policy which started off early on in January this year.
The Bank of Japan stunned the markets in early January by cutting interest rates into negative at -0.10%. The US dollar, which had been steadily declining following the December 2015 ... (read more)