As mentioned in these two previous posts both the Yen and Sterling are under attack and George Soros (and other fund managers) have been filing their boots with shorting these two currencies.
You can see from my previous post on shorting sterling what lovely runs there’s been to south side on Cable (and other GBP crosses) and now Business Insider have picked up on a piece in this last weekends FT regarding currency positioning.
http://www.businessinsider.com/soros-profiting-from-decline-in-pound-yen-2013-2
If you take a look at the attached chart you’ll see that despite some strong pullbacks (perhaps people might call them failed reversals) price has continued to just grind its way south.
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