Currencies
Jupiter’s Nash Has Made Buying the Japanese Yen His Biggest Currency Bet
- Sees Bank of Japan hiking rates to around 1% over next year
- His fund added to long yen and short JGB positions on Monday
Jupiter Asset Management on Monday added to wagers on the yen to strengthen and is buying the currency against the Swiss franc, Australian and New Zealand dollars.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Jupiter Asset Management’s Mark Nash has ramped up wagers for the yen to strengthen on the view that the Bank of Japan is likely to raise interest rates well into 2025.
“We can see now there’s too little priced into Japan and US real rates are too high,” said Nash, whose absolute return bond strategy beat nearly 90% of peers in the last five years. “That’s almost one of the perfect trades where you have both sides in your favor.”