Hedge Funds Extend Yen Short Squeeze Following Fed Decision
Deep News
Sep 17
Traders report that hedge funds continued to unwind their bearish positions on the dollar-yen pair during Wednesday's session, following the Federal Reserve's interest rate announcement.
According to market participants, the deleveraging process had already begun earlier in the week, driven by September 11 US inflation data that pushed the dollar-yen exchange rate back above the 155 threshold. The currency pair edged 0.1% lower to 156.11 during trading.
Some of the information in this report is based on accounts from currency traders familiar with the transactions, who requested anonymity as they were not authorized to speak publicly on the matter.
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