"350 point move in CAD/JPY and AUD/JPY, is the opposite of what the definition of quiet summer ranges should be.
As usual, stop losses have exacerbated the moves lower in the yen crosses. Volume is thin this week and many banks only have junior traders left on their desks. These traders are not likely to take on any news positions and are there just to monitor levels, book trades and watch for stops. Taking on risk is the last thing that senior dealers want their junior dealers to do at this time. As a result, any rebound in carry trades could be limited." -
DailyFX
Oh i get it, there are only shoe lickers in front of the trading desks these days, that's why everyone forgot about yens.
As usual, stop losses have exacerbated the moves lower in the yen crosses. Volume is thin this week and many banks only have junior traders left on their desks. These traders are not likely to take on any news positions and are there just to monitor levels, book trades and watch for stops. Taking on risk is the last thing that senior dealers want their junior dealers to do at this time. As a result, any rebound in carry trades could be limited." -
DailyFX
Oh i get it, there are only shoe lickers in front of the trading desks these days, that's why everyone forgot about yens.