It finally happened. After weeks of warnings in this column about crowded yen positioning, USD/JPY has reversed violently — from an intraweek high of 163.94 on Monday to a low of 155.26 by Friday, before settling at 157.58. That’s an 870-pip intraweek range, the largest since 2024, and it has obliterated a month of carry […]
The yen finally pushed back, and it pushed hard. USD/JPY crashed from Monday’s open at 163.79 to a Friday low of 155.26, settling the week at 157.58 — an 830-pip collapse that ranks among the sharpest yen rallies in years. The carry trade, rebuilt so confidently through mid-July, has been gutted for the second time […]
The yen finally said “enough.” After six weeks of relentless strength, the dollar topped out against the yen on Wednesday at 163.98 — just two pips shy of 164 — and sellers stepped in hard. USD/JPY has since pulled back to around 160.2, and the speed of the reversal has everyone asking the same question: […]
163.98. USD/JPY touched that number on Wednesday — matching April’s spike high almost to the pip — before sellers finally appeared. The question hanging over every trading desk on the planet this morning: was that the market, or was that Tokyo? Why 164 matters politically Japan’s government faces domestic pressure over import costs — energy, […]
Gold has done something quietly impressive this month: nothing. After June’s vertical decline and capitulation low at 3,955, the metal has spent three weeks building a base, inching from 4,040 to roughly 4,090. Volatility has collapsed. The daily ranges have shrunk to levels last seen in February. And the commentary has turned dismissive — which, […]