What Currency Is Even More Hated Than Gold?

With the JPY’s recent breakout back into its weakening trend, hedge funds are betting that this run of weakness continues. While ‘economists’ are less convinced that the JPY will weaken further, and even the Japanese officials somewhat jawboning the currency’s stability now, futures traders have pushed ‘net shorts’ – bets against the JPY – to their highest since July 2007. Between the possibility of a Fed taper (stronger USD) and fading economic gains (more BoJ QQE), it would appear that Japan’s $70bn per month buying program is not going to shrink anytime soon. While the world has grown accustomed in recent months to ‘hating’ gold – despite the ECB and BoJ rumors of more money-printing and an inevitable un-taper by the Fed – for now, the ‘dislike’ of the JPY has exploded.



Which brings to mind…


via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/bzfL7Mxx02s/story01.htm Tyler Durden

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