Hedge Funds Cover Yen Shorts as Currency Hits Low

During early activity today, the Japanese yen slid to its lowest level since June 2009 against the US dollar; Japanese Yen traded to a low of 98.85. The weakness is is a result of recent action from the Bank of Japan's first round of unlimited monetary easing April 4 by buying 1.2 trillion worth of debt. The yen may soon slide past the 100 USD, a strategic area . . .


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