Yen short fatigue
http://www.fxpro.com/news/forex-news/20130103/yen-short-fatigue
The single currency is feeling the pressure again this morning, but the fact that the yen is outperforming on the majors suggest that the dynamic we are seeing has more to do with positioning than anything more fundamental. As we discussed in our Daily Forex Brief today, the principle danger on the yen comes with the extent of short positions built up over recent weeks. Given the uncertainties relating to the dollar and the fiscal cliff into the tail end of last year, investors were more comfortable shorting vs.read more