ZH premium subscribers who have access to our private twitter feed, are aware that one of our favorite trades of 2023 (besides the blockbuster USDTRY long which made our year in one trade) was to trade the USDJPY, which we first went long (successfully) at the start of the year, then shorted in August (also successfully), before once again turning long at the start of December when it dipped to 142 on the thesis that consensus was dead wrong in expecting the BOJ to normalize monetary policy just as the rest of the world was set to ease. And so far so good, because at a time when the dead wrong echo chamber of ... (full story)