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The yen’s summer season revival entered a fourth day on Monday, placing it on observe for the longest rally since February, as one of many greatest macro trades of the 12 months continues to unwind.
The Japanese forex climbed as a lot as 1% to simply beneath ¥132 per greenback. Hedge funds are promoting down greenback positions and more and more shopping for the yen as a haven play, in response to Asia-based forex merchants who requested to not be named as they’re not licensed to debate shopper exercise publicly.
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