s the yen resumes its rally, many FX experts appear bemused by the yen's insistence to rally despite reported heavy foreign-bound investing by Japanese institutional players, persistent retreat in the road to 2.0% CPI by Abenomics and broad-weakness in last week's release of the BoJ's tankan corporate sentiment survey. Retail investors have got caught up in blindly following “major bank” FX strategists who had been conveniently telling clients USDJPY will return to 117-120 at a point when it was close to 114.50. Many are throwing the towel, calling FX markets illogical, a crapshoot and a universal conspiracy. It was at ... READ MORE
