U.S. Bank Survey: The Global Fund Manager's Aeropathy to Japanese yen has reached its highest level since 2022

On 13 July, a United States bank survey revealed that the global portfolio manager ' s perception of the yen had risen to its highest level in about four years, as the risks of fiscal and monetary policy prospects in Japan had covered the possibility of the Japanese Government ' s intervention in the exchange market. In a report of 10 July, US bank strategists Ralph Preusser, Adarsh Sinha et al. wrote: “Inventors' perception of the Japanese yen exchange rate has reached its highest level since 2022, the main factor driving this view is monetary and fiscal policy risk”. A United States bank survey showed that 40 per cent of the interviewed traders viewed the Japanese yen as a result of Japan ' s fiscal and central bank policy risks, a higher proportion than 35 per cent in June. As a result of the narrow United States-Japan spread, 10 per cent of the respondents looked at the yen, which was lower than 12 per cent in June. At the same time, data from the United States Commodity Futures Trading Commission (CFTC) indicate that, as at the end of June, speculative leverage funds held the largest net empty space in Japanese yen since 2007。