Mitsubishi UFJ: Ahead of BOJ Policy Decision, Positions Betting on Weaker Yen Continue to Increase

```htmlGolden Ten Data reported on June 15 that Lee Hardman of Mitsubishi UFJ Bank stated in a report that despite energy prices falling after the United States and Iran reached a temporary peace agreement, the Yen still struggles to achieve a meaningful recovery. Ahead of the Bank of Japan’s policy announcement on Tuesday, short bets against the Yen continue to increase. "A 25 basis point rate hike has been fully priced in, so it is unlikely to trigger a reversal of Yen weakness on its own, which has encouraged further increases in short positions against the Yen," he said. If energy prices continue to fall and bets on a US rate hike decrease, any further intervention measures taken by relevant Japanese authorities to support the Yen will prove to be more effective.```