Hedge Funds Throw Heft Behind 2019’s Best-Performing Currency
- Speculators most bullish on yen since November 2016: CFTC
- Fragile risk outlook points to further gains: Citigroup
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The yen’s dominant 2019 rally has finally caught the attention of hedge-fund managers.
Speculators haven’t been this bullish on the yen since November 2016, Commodity Futures Trading Commission data show. Before early this month, the group had been short Japan’s currency for more than a year, but they’ve gradually brightened on its prospects as U.S.-China trade tensions have fueled concern about global economic growth.