Did the Japanese Yen Cause the Tech Selloff?
26/7 20:57
Thanks to hedge funds piling in, the short position on the Japanese yen was near an all-time high. But now, that is unwinding... as are the bets these funds made with the proceeds of the short - buying U.S. tech stocks. As the yen recently jumped 5%, the tech-heavy Nasdaq Composite dropped by 7% over the same time period as the dollar’s decline against the yen....