Peter Brandt's EUR/JPY Short Is His Firm's Largest Position as Yen Gains

Trader Peter Brandt said on X that a EUR/JPY short is now his firm’s largest futures and currency position. The pair has fallen from an April high near 187.5, yet euro rates sit at twice Japan’s. EUR/JPY, the price of one euro in yen, sat at 175.65 in futures on Brandt’s chart. Still, the European Central Bank (ECB) pays 2.5% on deposits versus 1.25% at the Bank of Japan (BOJ). Why Is the Yen Gaining Against a Higher-Yielding Euro? Washington has intervened directly. On July 31, the US Treasury sold euros for yen alongside Japan. The ECB learned of the trade only afterward, the Financial Times reported. The action helped lift the yen to 157.57 per dollar from a 163.73 low, CNBC reported.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.