Sideways: Joe Lewis may have missed a great day for yen trading

Tottenham Hotspur’s Joe Lewis was indicted for insider trading just before yen volatility presented an opportunity for profitable currency dealing.

Billionaire investor Joe Lewis was charged by US authorities in late July with insider trading for passing on tips about companies in which he had ownership stakes to friends and employees, including his private jet co-pilots.

The indictment came in a week that ended with a bout of yen volatility that might have suited the aggressive currency trading for which Lewis is best known.

When the Bank of Japan made a surprise shift in its monetary policy on Friday July 28, the yen saw hours of price convulsions against the dollar and euro.

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