Yen Bulls Betting on BOJ Bask in Stock Rout, Add to Wagers

AMP Capital adds to yen long positions against dollar, pound
Hedge Fund Vantage Point bets dollar-yen volatility will rise

Japanese 100 yen coins are arranged for a photograph in Tokyo, Japan, on Monday, June 20, 2016. Japanese shares fell, with the Topix index dropping for the first time in three days, as the yen rose ahead of the U.K. decision on European Union membership and investors awaited testimony from Federal Reserve Chair Janet Yellen.Photographer: Tomohiro Ohsumi/Bloomberg

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By Netty Idayu Ismail

February 14, 2018 at 7:21 PM EST

Updated on

February 15, 2018 at 3:03 AM EST

This article is for subscribers only.

Yen bulls who were betting the Bank of Japan will edge away from monetary stimulus are basking in this month’s global stock slump, which has propelled the currency to the strongest in 15 months.

AMP Capital Investors Ltd.’s Nader Naeimi this week added to his long yen positions, wagering the currency will strengthen against the dollar, pound and Philippine peso among others. Singapore-based Kit Trading Fund Ltd., a hedge fund, is betting the yen will appreciate against the U.S. and New Zealand dollars, while Vantage Point Asset Management Pte favors a long position in dollar-yen volatility.

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