Mitsubishi UFJ: The weakening of the yen may be due to fundamental factors

```htmlGolden Ten Data reported on June 30 that Mitsubishi UFJ Morgan Stanley Securities strategist Shota Ryu stated the main driver of the yen's weakness is Japan’s own fundamental issues, such as the continually expanding digital services trade deficit and the increasing overseas investments by domestic individuals and businesses. Ryu said speculators have built up large short positions on the yen in the futures market, indicating overheated trading. He added that this provides justification for the Japanese government to intervene in order to boost the yen. Japanese Finance Minister Katsuki Katayama said on Tuesday that the government is ready to take “decisive” action in the foreign exchange market when necessary.```