Hedge Funds: Close Half Short Yen Positions
Hedge funds cut short yen positions to 59,526 contracts after US-Japan intervention, with Bank of Japan rate hike odds at 81% on Polymarket.
SourceAnalysis
Hedge funds closed nearly 50% of short yen positions since the US-Japan intervention, with contracts dropping 6.5% to 59,526 in the week to August 11. The yen sits at 159.35 after surrendering half its intervention gains, nearing the prior trigger level and exposing remaining shorts to instant Tokyo hits. Bank of Japan rate hike odds surged to 81% on Polymarket from 22% two weeks earlier, raising carry costs and accelerating the yen carry trade unwind amid 31-year high bond yields and 205% debt-to-GDP pressure.
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