Apr
10
Chan’s Hedge Fund Bets on Asian Currencies Emulating Yen
By-
Bloomberg-JPMorgan Asia Dollar Index rose 1.9% last quarter
-
`If dollar-yen goes down, dollar-Asians will go down:’ Chan
Charlie Chan, a former Credit Suisse Group AG proprietary trader whose hedge fund profited from the yen’s slump in 2014, is now betting that the Japanese currency’s resurgence versus the dollar will benefit Asian peers.
The region’s currencies are set to extend an advance this year against the greenback until June as the yen appreciates and the Federal Reserve delays raising interest rates, the founder of Singapore-based Charlie Chan Capital Partners said in an April 8 interview. Japanese authorities had refrained from intervening to weaken the yen even when it was stronger than 80 per dollar in 2012 and are unlikely to step in at current levels, he said…
Chan’s Hedge Fund Bets on Asian Currencies Emulating Yen
