Yen short positions soar to nine-year high! Arbitrage trading disregards intervention "making a comeback"

According to the Securities Times app, despite the Bank of Japan facing pressure to raise interest rates and the risk of government intervention looming, speculative funds' bearish sentiment towards the Japanese yen has reached its highest level in nearly nine years. This indicates that despite the intervention risk and the possibility of a rate hike by the Bank of Japan this Tuesday, yen carry trades are still recovering.