Yunosuke Ikeda debuts in second place in this new sector. “The yen has already entered a steady weakening trend,” the Nomura Securities Co. strategist points out, adding that he expects the Japanese currency — which traded in the ¥94 to ¥95 range against the dollar in late March — to reach ¥110 to ¥115 in 2015. “For now the expectations for ‘Abenomics’ and [newly appointed governor Haruhiko] Kuroda’s Bank of Japan look overstretched, and I would expect some unwinding of hedge fund positions after the general elections in July. My low-point target for the yen this year is ¥97, in July.” For investors looking farther into the future, Ikeda recommends a long dollar-yen strategy he says. In the short term he advises clients to short volatility in the pair. Ikeda provides “logical and clear explanations of every foreign exchange phenomenon,” marvels one backer. — Thomas W. Johnson |
Economics & Strategy – Currency & Foreign Exchange: 2013 Second