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المشهد العربي
Australian Trust Boosts Yen Holdings
The Australian Retirement Trust, the second-largest retirement fund in Australia, has reduced its exposure to the Japanese yen to levels not seen in years, believing that markets are underestimating the likelihood of the Bank of Japan raising interest rates. The fund, which manages assets exceeding AUD 370 billion, attributes this move to a strategic bet that the Japanese central bank may increase interest rates despite the yen's declines and its approaching 160 yen per dollar. Some positions were financed by reducing exposure to the U.S. dollar, with expectations that the Bank of Japan will implement an tightening monetary policy, amid rising energy costs.
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