Investors Keep Selling the JPY Despite Falling to the Lowest Since 2002 vs. the US Dollar

One of the big stories in the FX market in 2022 is the spectacular drop of the Japanese yen (JPY). Since March, it has depreciated against all its peers to reach the weakest levels vs. the US dollar since 2002.

Interestingly enough, the selloff comes when investors had all the reasons to buy the Japanese currency – not to sell it. Historically, the JPY acted as a safe-haven currency.

Effectively, it means that traders bought the JPY and sold US equities in times of uncertainty. Well, one did happen – US stocks are down by about -20% or more, depending on the sector. But the JPY did the opposite...More  info:  blog  FXOpen