Japan top currency diplomat Kanda says closely watching FX market moves

<ul><li>There is the view that speculative yen short positions are unwinding rapidly</li></ul><p>He's not wrong there but keep in mind, that speculation is also building on the other side for the Japanese yen – as noted <a href="https://www.forexlive.com/news/higher-japanese-yields-tees-up-potential-for-another-boj-disappointment-20230712/" target="_blank" rel="follow">here</a>.</p>

This article was written by Justin Low at www.forexlive.com.