4Cast true to name on stronger yen
4Cast topped this week's one-month rankings by taking a bullish view on the yen as the unit continued to gain from the repatriation of funds to Japan.
Chris Furness, head of currency strategy at 4Cast in London, said that, as financial conditions continued to deteriorate globally, Japanese fund managers rushed to reallocate funds back home, supporting the yen. He added: "Japanese fund managers decided to bring back quite a bit of money, as they could not guarantee high yield to their investors
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