Pimco Is Buying Yen to Prepare for Tighter BOJ Monetary Policy
- Firm began building long yen position in recent months: Sharef
- Yen has been worst-performing Group-of-10 currency this year
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Pacific Investment Management Co. is buying the yen on a bet the Bank of Japan will be pressured into tightening monetary policy as inflation quickens.
The bond giant started building a long yen position when Japan’s currency weakened past 140 per dollar a few months ago, said Emmanuel Sharef, a Pimco fund manager, whose areas of focus include multi-asset investing and asset allocation.