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Takaichi victory forces unwinds and a transfer to topside trades, whereas boundaries give sellers a headache
The shock end result of the Japanese election has led to a U-turn amongst many macro hedge funds that are actually positioning for a weaker yen by exotics choices buildings, which has left sellers scrambling to handle exposures from barrier trades.
Going into the competition for Japan’s new prime minister, one of many final consensus positions within the overseas alternate volatility house was for a bullish yen in opposition to the US greenback.
However Sanae Takaichi’s historic victory on October 4 to change into head of the
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