2023 Evolving FX Drivers and Losing US Dollar Appeal: FX Moment
FICC Focus
00:00
Yen Pullback
The Bank of Japan has an hike rates? And that's very relevant and very unusual as well. The positioning case is still favorable if you bullish on the yen because the market had built such significant, large, underweight positions. It takes time for all those positions to unwind before you even think about going along the yen. So the yen is also one of the key currency that I like against the dollar early in 2023. In terms of level, the next key retracement level that we have, if you take a kind of historical chart on dollar yen, is near 125.
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