Forex Flash: Japanese investors less exposed to Yen consolidation - Societe Generale

FXstreet.com (Barcelona) - As Sebastien Galy,Forex strategist at Societe Generale, notes, the fall in the Yen has been produced without much, if any, investment flows out of Japan.

According to Mr. Galy: "This leaves Japanese investors less exposed to a consolidation of the yen, while foreign investors are short JPY but not excessively so. The same holds true for hedge funds. The exposure is indirect as both Japanese and foreign investors are significantly exposed to the Nikkei, and a correction in the Nikkei would lead the JPY higher."