Currency Contrarians Cut Yen-Buying Positions as Yen Passed 140
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Foreign-exchange margin traders in Japan unwound long yen positions as the currency strengthened past the key psychological level of 140 yen per dollar on Monday for the first time in a year.
Net-long positions for the yen against the dollar decreased to a level not seen in about four months on Monday, according to data from the Tokyo Financial Exchange’s FX trading platform Click 365.