Asset managers trimmed bearish positions on the yen by the most in more than three years as inflation continues to put pressure on the Bank of Japan to adjust its ultra-loose monetary policy this year. The latest Commodity Futures Trading Commission data for the five days through July 18 also showed a slight reduction in the still-bearish bets of hedge funds. Meanwhile, one-week risk reversals, which show demand for call options to buy the yen relative to put options to sell it, suggest that traders are hedging for a stronger currency. The yen has had a wild ride since the end of June, rebounding more than 5% from ... (full story)