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CurrencyShares Japanese Yen Trust ETF

5/21/2013, 10:57 AM ET

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Monday, May 20, 11:27 AM Silver's (SLV -0.6%) 9% plunge in the first minutes of trading overnight is being linked to hawkish talk from Japanese Economy Minister Akira Amari who warned the yen's (FXY +0.7%) fast decline may be hurting the economy. One fails to see the connection but dollar/yen did dive along with silver and Andrew Wilkinson suggests hedge funds short the yen were forced to raise cash by bailing on stale silver longs. 11 Comments [Commodities, On the Move]
Friday, May 17, 3:46 PM The yen (FXY -0.9%) legs down to a new multi-year low - the dollar now buying ¥103.24 - continuing a truly remarkable move since late last year. It's an instance where politicians told you they were going to devalue, every trader and strategist around told you they were shorting the yen, and sure enough the yen went down ... hard, and in as straight of a line as markets ever allow. Ah, if it were always that easy. Other ETFs: JYN, YCL, YCN. 4 Comments [Global & FX, On the Move]
Friday, May 17, 9:38 AM Did the Fed tighten while we were getting a cup of coffee? The greenback is soaring against all other currencies, with the dollar bull ETF (UUP) gaining 0.6% - an unusually large move for that vehicle. Strength against the yen (FXY -0.3%) and the aussie (FXA -0.9%) are givens of late, but the greenback is up about 1% vs. both the loonie (FXC) and the swissie (FXF), and about 0.6% vs. the euro (FXE) and cable (FXB). Getting hit are Treasurys (TLT -0.5%), the dollar bear ETF (UDN -0.6%) and of course, gold (GLD -0.7%). 5 Comments [Global & FX]
Friday, May 17, 7:29 AM Copy the Goldman aussie forecast to the yen - its quick tumble also forcing the team to revise lower its already bearish forecasts. The analysts now see the dollar buying ¥110 twelve months out vs. ¥105 previously. The yen's (FXY) marginally stronger this morning, the dollar buying ¥102.40. Comment! [Global & FX]
Thursday, May 16, 6:26 AM Unexpectedly weak capital spending marred an otherwise decent Japan GDP report, weighing on the Nikkei (EWJ, DXJ), which fell 0.39% but still held onto the 15,000 level. The yen (FXY) was firm against the dollar for most of session, trading around ¥102, but has since lost ground, falling 0.40% to ¥102.60. Comment!
Wednesday, May 15, 7:32 AM The Nikkei (EWJ, DXJ) soared another 2.3% overnight to top 15K for the first time since 2007 as the yen (FXY) slid 0.3% to a new multi-year low of ¥102.65. Leading was Sony (SNE), up 10% following Dan Loeb's push for a breakup. Toyota (TM) paced the exporters with a 3.7% gain. JGBs (JGBL) were calm, the yield on the 10-year flat at 0.86%. 4 Comments [Global & FX, On the Move]
Monday, May 13, 4:56 AM The yen (FXY) continues its slide , falling to a new four-and-a-half year low against the dollar, helping the Nikkei (NKY) post another triple-digit gain on the session, rising 1.2% to 14782, its highest level since January 2008. The weak yen comes on the heels of the G7's reportedly amicable meeting over the weekend, at which officials were generally supportive of the BOJ's policies and reiterated that Japan's goal is to fight deflation not engage in the targeting of exchange rates. 4 Comments [Global & FX]
Friday, May 10, 11:01 AM One casualty of Friday's yen (FXY) rout are South Korean stocks (EWY -3.6%) as the Kospi falls 1.75% in Seoul. The weaker yen hurts Korea's exporters and Thursday's 25 basis point rate cut is likely no match for the BOJ's monetary bazooka. Comment! [Global & FX]
Friday, May 10, 4:37 AM For the first time since April of 2009, the yen (FXY) fell through the 100-level against the dollar, helping the Nikkei rally nearly 3% on the session and almost 7% on the week. Japanese equities (EWJ) are now trading at levels last seen in January of 2008. Japanese capital flows data finally showed what many had been waiting for since BOJ Governor Kuroda's shot across the bow at deflation: an outflow, as Japanese investors became net buyers of foreign bonds. 6 Comments [Global & FX]
Thursday, May 9, 1:26 PM The yen (FXY -0.8%) has weakened sharply in the last few minutes, with the dollar making another run at ¥100, currently buying ¥99.80. A move into triple digits would be the first time that high for the greenback in 4 years. 4 Comments [Global & FX, On the Move]
Monday, April 29, 3:09 PM Excitement for shorting the yen (FXY) has cooled among BAML's hedge fund clients, according to the firm's latest Macro Monitor. More or less a one-way trade for many months, the dollar hit a ceiling of ¥100 earlier this month and has fallen back (currently ¥98). Another popular short, the British Pound (FXB) has been costing traders money and forcing them to cover, a trend BAML suggests isn't fully played out. Comment! [Global & FX]
Friday, April 26, 11:10 AM The yen (FXY +1.6%) races higher, unwinding a bit of what had been about the world's most one-sided trade for the last 6 months. First comes price action then come excuses, and about the best reasons for today's slide in dollar/yen is the BOJ upping its economic forecast at last night's policy meeting, and the weak U.S. GDP print. The surging yen is hitting the year's hottest ETF, DXJ -1.7%. 2 Comments [Global & FX, On the Move]
Friday, April 19, 3:05 PM The yen weakens further as the G-20 statement (word doc) shows the gang agrees Japan's stimulus efforts are necessary and not aimed at devaluing the yen. Speaking to reporters, however, Canadian finmin Flahery says the yen wasn't discussed. Go figure. FXY -1.4%, with the dollar threatening to push over ¥100Y, now at ¥99.58. Comment! [Global & FX]
Tuesday, April 16, 8:28 AM After continuing to strengthen sharply in early trade overnight, the yen is back in full retreat, down more than 1% vs. the dollar which is now buying ¥97.88. Along with the big reversal came a big swing in the Nikkei, which fell more than 2% at one point, but closed down just 0.4%. FXY -1.1%, EWJ +0.6%, DXJ +0.5% premarket. Comment! [Global & FX, On the Move]
Monday, April 15, 2:42 PM Another popular position unwound today is the yen short trade, with much of the move coming in the past 90 minutes. The dollar (UUP) is off a full 1% vs. the yen (FXY +1.2%), but surging against most all other units. Particularly noteworthy are the "commodity currencies" - the aussie (FXA -1.6%), the loonie (FXC -1%). 1 Comment [Global & FX]
Friday, April 12, 5:22 PM Treasury officials say they will encourage Japanese Prime Minister Abe not to pursue "competitive devaluation policies" in order to boost exports. The BOJ's latest policy maneuver only has the blessing of the international community if it is aimed at fighting the deflationary boogeyman, not if the intention is to target specific exchange rates for the yen (FXY), reports WSJ. Comment! [Global & FX]

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