Forex

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The latest move from the yen comes as no surprise as we wrote about yen shorts building with $JPY short positions are at their highest since 2014. The herd has been caught again, part of it is the U.S. traders obsession with the dollar index rather than the currency itself.

The IMF issued its External Sector Report saying U.S. dollar was overvalued by 10 percent to 20 percent, the Euro was 10-20 percent too low for Germany's fundamentals.

Yen shorts continue to build despite the Japanese currency gaining, CFTC data show $JPY short positions are at their highest since 2014. Is the herd wrong?

The Australian dollar continued its upward trajectory against the U.S. dollar since it broke and tested .7500 back in June. It broke the 2016 high of 0.7835 to trade up to o.7943 earlier. Why? and where to?

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