Yen Surges Most In 3 Weeks After Goldman's Short Reco

Just 24 hours after Goldman Sachs suggests a looming collapse in the Yen (USDJPY to 130), the Japanese currency is rallying by the most in 3 weeks against the USDollar. Having been hammered on Friday, Yen has rallied back over 100 pips this morning (pushing USDJPY back to a 110 handle) as a potential short-USDollar squeeze begins (with hedge funds net short the greenback for the first time since July 2014).



Ironic really since we specifically noted that:

Of course, the most likely outcome here is that Goldman's FX team will simply be dead wrong as has been the consistent case for months, and while Japan may indeed unveil helicopter money as soon as this week (after all Kuroda is known best for succumbing to peer pressure when it comes to monetary policy) the result may be not only a further plunge in JGB yields, but a surge in the Yen.

What better way to instigate a squeee then wait for the biggest short USD position in years and put out this recommnedation?