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07.07.26 - 07:42
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Rupee recovers 15 paise to 95.28 against US dollar in early trade (Times of India)
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The Indian rupee opened stronger against the US dollar on Tuesday. Lower crude oil price expectations and easing Middle East tensions improved market sentiment. Saudi Arabia's decision to cut oil prices for Asian buyers added to the positive mood. Foreign institutional investors remained net buyers of domestic equities on Monday. Indian equities also opened on a positive note, with major indices rising....
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07.07.26 - 01:48
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"Reaching A Climax": Hedge Funds Turn Most Bearish On Yen Since 2007, As Former FX Czar Sees 20% Undervaluation (ZeroHedge)
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"Reaching A Climax": Hedge Funds Turn Most Bearish On Yen Since 2007, As Former FX Czar Sees 20% Undervaluation
For much of the past year, when the USDJPY disconnected - initially playfully and then terminally - from 2Y yield differentials, FX traders have been asking when and how will this gaping divergence finally converge. Alas, that answer remains elusive still, even as the collapse in the yen has pushed the currency to a generational low, and become an increasingly political topic leading to a surge in Japanese bankruptcies, and a relentless battering of what little is left of Japan's middle class.
Source: Japan Bankruptcies Surge To All-Time High As A Result Of Plunging Yen
And yet, despite the yen's push into what until just two months ago were seen as unthinkable lows by the BOJ no less (which promptly spent $50BN to prop up the currency this April when it touched 161), the fact that the Japanese central bank allowed the yen to resume its descent through the July 4th hol...
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