Yen

Shifts in currency and equity positions

Tilney Bestinvest has removed its currency euro and yen hedges in the belief that the macroeconomic factors driving weakness in the currencies have now subsided.

Japan is attempting to resurrect its economy, and bringing with it more tourists and eagerly awaited corporate governance reform, says Genzo Kimura, economist at SuMi TRUST

Renewed yen weakness could bring about a fresh global currency war resulting in a 'tidal wave of deflation' in China and the West, Société Générale's Albert Edwards has warned.

WisdomTree has brought two of its flagship currency-hedged ETFs to Europe to offer investors the option to hedge exposure to the euro and the yen.

Columbia Threadneedle's Sarah Williams argues the real value in Japan may now lie in stocks which are off the beaten track.

How far would yen have to fall?

The managers of the Ruffer investment company have cut their US dollar exposure further, even as the currency looks set for its best quarter in over 20 years.

Wealth managers are reducing their exposure to hedged share classes in their Japanese fund holdings, in the belief that further yen depreciation now looks less likely.

The managers of the Ruffer investment company have slashed their exposure to the US dollar on fears it is no longer fit to act as a hedge, and have moved into the Japanese yen instead.