Hedge Fund Yen Bulls Retreat Amid Currency’s Three-Week Decline
ByThe yen held a three-week decline against the dollar as hedge funds trimmed bullish bets on the Japanese currency by the most since May amid growing confidence the Federal Reserve will raise interest rates this year.
Japan’s currency was little changed after depreciating by about 3 percent in the past three weeks as Bank of Japan Governor Haruhiko Kuroda said this month the central bank has no intention of reducing the bond purchases and an influential economic adviser to Prime Minister Shinzo Abe called for a third supplementary budget and closer coordination between monetary and fiscal policy. Bloomberg’s gauge of the dollar traded near a seven-month high as the probability the Fed will tighten this year climbed to 66 percent, from 59 percent at the end of September…
Hedge Fund Yen Bulls Retreat Amid Currency’s Three-Week Decline
