Yen undervalued, survey finds
NEWS
Of the 194 fund managers surveyed by the US investment bank, 56% found the yen to be stronger than its current levels based on current fundamentals. On a trade-weighted basis, 43% of respondents believe the yen will appreciate over the next 12 months. This compares with 42% of respondents that believe the US dollar will depreciate over the year.
Only 12% of the respondents had unhedged exposures to the yen relative to their benchmark. Meanwhile, 15% were underweight the US dollar relative to
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