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Stock impact report

Japan's Retail Investors Eye Risky Wagers on Yen Intervention [BNN Bloomberg (Canada)]

DAIWA SECS GROUP S/ADR (DSEEY) 
NASDAQ:AMEX Investor Relations: daiwa-grp.jp/english/ir
Company Research Source: BNN Bloomberg
Bullish positions on the yen against the dollar have been building since mid-May via futures contracts that cater to individual Japanese investors, data from Tokyo Financial Exchange Inc. show. These wagers tumbled on April 29 and May 1-2, around the time when the government is thought to have stepped into the market, indicating that retail traders sold the yen to take profit. With the yen dropping back toward 160 versus the dollar, retail traders are on the edge of their seats wanting intervention to come as soon as possible, according to Takuya Kanda, head of research at the analysis unit of Gaitame.com, a Japanese online brokerage that caters to individual forex traders. Trying to ride the government's coattails to riches is a risky strategy, especially for those using borrowed money to amplify returns. Some investors were badly burned when the Ministry of Finance ordered the Bank of Japan into the market to defend the currency in April and May. But others who got the timing r Show less Read more
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