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Forex Flash: Wait until BoJ event before loading up on yen shorts - Societe Generale

FXstreet.com (Barcelona) - As the markets awaits BoJ Kuroda's first policy decision on Thursday, according to Societe Generale FX strategist Kit Juckes, there is plenty of talk about yen short-covering, yet CFTC data suggest there are still yen shorts."

In view of Mr. Juckes: "I suspect the 'big players' are square. But if you are on the sidelines, I'd be tempted to wait for the BOJ to reveal whatever bazooka is hidden under that kimono before loading up on yen shorts again."

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Session Recap: The USD advances; GBP/USD collapsed to 1.5100

The Greenback advanced against its major competitors as the GBP/USD collapsed from 1.5255 to trade at 1.5100. The EUR/USD was rejected by the 1.2880 region and declined to 1.2810. The USD/JPY recovered 100 pips from 92.55 to trade at 94.55 and the USD/CHF closed 0.27% positive on the day at 0.9485.
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