Surging Yen Catches Japanese Retail Investors Off Guard
- Rand, Mexican peso sink to record lows versus Japan’s currency
- Tumbling oil prices triggered stop-loss selling: Tokai Tokyo
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Monday’s surge in the yen has left yield-seeking Japanese retail investors wrong-footed again.
Japan’s currency surged to all-time highs against the South African rand and Mexican peso early in Asian trading. That’s after margin accounts just last week boosted their net long positions on these currencies to the highest level at least since December, according to the latest data from the Tokyo Financial Exchange Inc.