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fxJul 2, 2026, 4:23 PM

BNY: Sharp Rebound Possible for Asian FX on US Pressure

BNY Mellon's Geoff Yu notes that clients have largely given up on Japanese yen and South Korean won longs, but sees potential for a sharp rebound driven by US pressure.

JPYKRW

BNY Mellon's Geoff Yu observes that client positioning in the Japanese yen (JPY) and South Korean won (KRW) has largely capitulated as these currencies remain weak against the US dollar and Chinese yuan.

However, Yu suggests there is scope for a sharp rebound in Asian FX, citing US pressure as a potential catalyst.

Source: FXStreet Forex News