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7 Oct 2013
Flash: It's the season to be jolly for the Yen – TD Securities
FXstreet.com (London) - Research teams at TD Securities said that seasonally, October has been one of the best months of the year for the JPY over the past 25 years.
Key Quotes:
“Seasonally, October has been one of the best months of the year for the JPY over the past 25 years and with a continuation of US political deadlock, that trend could hold true in the coming days at least”.
“The government shutdown means we did not receive the CFTC data on speculative positions for last week, but it’s also worth noting that as of the Sep. 27th report, the JPY was the most shorted G10 currency”.
“Short covering could also continue to add to JPY strength”.
Key Quotes:
“Seasonally, October has been one of the best months of the year for the JPY over the past 25 years and with a continuation of US political deadlock, that trend could hold true in the coming days at least”.
“The government shutdown means we did not receive the CFTC data on speculative positions for last week, but it’s also worth noting that as of the Sep. 27th report, the JPY was the most shorted G10 currency”.
“Short covering could also continue to add to JPY strength”.