RE:What I would like to knowYen carry trade. Simple as that.
FX desks at the largest Japanese banks have mandates to sell yen for dollars.
Serves two purposes:
1. Buy USD denominated assets
2. Strengten the USD to push down POG
Today is another perfect example of that process in action.
Why do you think POG is soaring in yen? Look at that long term chart!
https://goldprice.org/gold-price-japan.html