WisdomeTree Dreyfus Japan Yen ETFNYSE
JYF is defunct since December 3, 2012. Lack of investor interest
  • Dec. 9, 2012, 8:50 PM

    Yen bears have plenty of reasons on their side (the latest), but contrary opinion isn't one of them. Net short positions on the yen - as reported by the CFTC - have spiked to multiyear highs in the past few weeks. Reuters provides an outstanding interactive graph of trader positioning in the major currencies over time. FXY -7% YTD.

    | Dec. 9, 2012, 8:50 PM | 2 Comments
  • Nov. 30, 2012, 11:45 AM
    Shinzo Abe - the frontrunner to be next Japanese PM - backs off recent calls to essentially make the BOJ an arm of the government, saying he would not comment on monetary policy as PM. His retreat comes as he was criticized by the country's main business lobby for actions threatening the credibility of JGBs.
    | Nov. 30, 2012, 11:45 AM | 2 Comments
  • Nov. 30, 2012, 7:32 AM
    The yen takes another header overnight, carving out a new multi-month low as opposition party head Shinzo Abe again calls for all necessary measures to bring inflation up to 2%. His comments came after core CPI came in flat Y/Y in October. The dollar +0.7% vs. the yen at ¥82.70. The Nikkei, +0.5%, continues to rise. Hopefully overseas owners of stocks are currency hedged.
    | Nov. 30, 2012, 7:32 AM | 1 Comment
  • Nov. 29, 2012, 7:36 AM
    Continued jawboning by Shinzo Abe - the man who looks to be the next Japanese PM - fails to do a lot for the yen. Amidst a weak retail sales report, he again calls for unlimited monetary easing and says the BOJ governor must be held accountable if a 2% inflation target (not yet official policy) isn't hit. The dollar is up a hair on the yen, buying ¥82.13.
    | Nov. 29, 2012, 7:36 AM | 1 Comment
  • Nov. 26, 2012, 4:12 PM

    Shorting the yen has paid off nicely this fall, especially in the last two weeks. No surprise then, the trade is beginning to get a little crowded. CFTC position data shows net shorts climbed 70% in the week ended Tuesday to 51K contracts.

    | Nov. 26, 2012, 4:12 PM | 1 Comment
  • Nov. 25, 2012, 8:44 PM
    The opposition party LDP - led by Shinzo Abe - maintains its lead over the DPJ in the latest polling from Japan. It's more good news for Nikkei longs and yen shorts as Abe's call for "unlimited monetary easing" has set off what is now a 10% rally in stocks and more than a 4% decline in the yen in just 2 weeks. Why hasn't your Japan ETF done so well? It may not be currency hedged. A comparison since the rally started.
    | Nov. 25, 2012, 8:44 PM
  • Nov. 21, 2012, 7:31 AM
    Selling in the yen picks up steam, the currency hitting a 7-month low vs. the dollar as a wider-than-expected trade deficit - led by sorry export numbers - is likely to add fuel to the (possibly) incoming government's call to remove the BOJ's independence. The dollar +0.8% vs the yen, and buying ¥82.34. The Nikkei doesn't complain, +0.9%.
    | Nov. 21, 2012, 7:31 AM | 2 Comments
  • Nov. 19, 2012, 7:32 AM
    "The moment is here," writes Goldman's Jim O'Neill, joining others who say it's finally happening - the yen is entering a sustained weakening phase. Along with noting a change in the tone of leadership, O'Neill points out an end to Japan's vaunted trade surpluses has caused the current account to go into deficit.
    | Nov. 19, 2012, 7:32 AM | 1 Comment
  • Nov. 19, 2012, 6:56 AM

    The BOJ could be a more aggressive buyer of JGBs (monetization?) only if the government makes a "legal promise" to improve the country's balance sheet, says Nobuo Inaba, maybe in line to be next BOJ governor. The comments are a bit at odds with supposed next PM Shinzo Abe's call for "unlimited easing." The dollar falls vs. the yen, -0.2% and buying ¥81.15.

    | Nov. 19, 2012, 6:56 AM | 1 Comment
  • Nov. 18, 2012, 8:23 AM
    "It is only monetization when the market tells us it is monetization," says a BOJ member. In other words, if central banks hoover up government debt and yields go down, it's not monetization. Wonderful logic. Kyle Bass again takes central bankers to task for actions surely to end in a massive loss of wealth and earnings power. A bear on Japan's finances for some time, he's never been comfortable just shorting the yen ... until now. (see also)
    | Nov. 18, 2012, 8:23 AM | 6 Comments
  • Nov. 16, 2012, 11:01 AM

    Not only does the yen have to contend with Japan's putative new leader calling to truly unleash the monetary fire hoses, but the technical picture also points to an end of the currency's 40-year bull market vs. the dollar, write the WSJ's Bernard and Cignarella. FXY +44% since its early-2007 inception.

    | Nov. 16, 2012, 11:01 AM
  • Nov. 16, 2012, 6:57 AM
    The "world has changed" moment of the week is Japan opposition party leader Shinzo Abe's call for "unlimited easing" by the Bank of Japan. Abe is likely the country's next PM after current PM Noda dissolved parliament and called a snap election. Tokyo +2.2% overnight adds to a 1.9% gain on the back of Abe's comments the day before.
    | Nov. 16, 2012, 6:57 AM | 15 Comments
  • Nov. 15, 2012, 7:04 AM

    Tokyo bucks the selloff, +1.9% as opposition party leader Shinzo Abe - possibly set to come to power in coming elections - makes clear his position: "The biggest economic problem is prolonged deflation and a strong yen ... Markets will only start to react once unlimited monetary easing is conducted." The dollar rises to a 6-month high, +1.2% and buying ¥81.17. EWJ +1.6% premarket, but also consider funds which hedge against the yen.

    | Nov. 15, 2012, 7:04 AM | 1 Comment
  • Nov. 14, 2012, 7:43 AM
    With the world focused on the maybe irrelevant fiscal cliff, Kevin Ferry notes a ratcheting up in the currency wars. After nearly 2 decades, the BOJ seems to be getting serious with its QE efforts, and the BOE just became even more of an arm of fiscal policy. If the Fed had tried this, the howls would be deafening. The dollar +1% vs. the yen, buying ¥80.13.
    | Nov. 14, 2012, 7:43 AM | 2 Comments
  • Nov. 7, 2012, 6:54 AM

    The greenback reflexively slid lower as the President's reelection became clear last night, but has since retraced all of the move. Were traders expecting a Romney victory followed by a rate hike? The Fed wasn't going anywhere no matter last night's result.

    | Nov. 7, 2012, 6:54 AM | 1 Comment
  • Nov. 2, 2012, 9:30 AM
    The yen continues to weaken, with the strong NFP report pushing the dollar firmly past ¥80. The move should help the Nikkei, which is up about 6.5% since mid-October. EWJ's exposure to currency fluctuations has led that ETF to underperform. For exposure to Japanese shares without worry over a weakening yen, there's always currency-hedged ETFs like DBJP and DXJ.
    | Nov. 2, 2012, 9:30 AM
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