Fri, Dec 9, 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. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest