Wed, Aug 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds are seeing opportunity in shorting yen

Wednesday, November 27, 2013

Komfie Manalo, Opalesque Asia:

Hedge funds are betting on another run of the yen’s weakness, in contrast to economists who believe the Japanese yen would remain unchanged into 2014.

In a report, Bloomberg cited data released by the Commodity Futures Trading Commission (CFTC), which said that futures traders believe the yen will fall against the U.S. dollars. 50 analysts surveyed by Bloomberg see the yen hover at 102 per dollar at the end of the first quarter of next year from its current 101.47.

"Japan has resorted to an unprecedented $70 billion of monthly bond purchases since April to depreciate its currency, boost growth and combat deflation," the report says. "The yen has plunged 15 percent this year, on pace for the biggest drop since 1979."

Many hedge funds are trying to duplicate George Soros’ success in the Japanese yen who earned nearly $1bn November 2012 to February 2013 on wagers that the Japanese currency would tumble, says Bloomberg.

Stan Druckenmiller, Soros’s former chief strategist and the founder of Duquesne Capital said in a Bloomberg interview in September that his firm was "short some yen," while being "long some Japanese" stocks.

Another report by Tradingfloor.com on Monday confirmed......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Algorithms platform aims to target typical challenges found in quantitative hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Last month, Quantopian received investments from Point72 Ventures, the new venture capital arm of Steven Cohen’s Point72 Asset Management.

  2. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  3. Opalesque Roundtable: Low and high fee investments often better than mid fee hedge funds[more]

    Komfie Manalo, Opalesque Asia: Hedge funds that charge the low and high fees stuff often provide better returns than "those sort of mid-fee investments", said Keith Haydon, chief investment officer of Man FRM. (Alternative) investment managers who charge high fees would often provide the most int

  4. Hedge fund investors pull $5.7 billion in July[more]

    From Bloomberg.com: Hedge funds suffered a third consecutive month of outflows in July as investors withdrew $5.7 billion, according to industry tracker Eurekahedge. Redemptions totaled $20.7 billion in the three months through July, with money managers betting on equities suffering $18.4 bill

  5. …And Finally - Police contact Catholic Church after baffling ‘poltergeist’ report[more]

    From Telegraph.co.uk: Police officers in Scotland have called in representatives from the Catholic Church after investigating reports of “disturbing incidents” of a "poltergeist" at a family home. A mother and her teenage son were said to be “extremely distressed” after experiencing what the D