Soros Fund Management is among the investment management firms that profited from betting against the Yen. Last Friday, the Bank of Japan surprisingly boosted its stimulus further to reach its target inflation rate of 2%.
Separately, Japan’s Government Pension Investment Fund (GPIF) announced new portfolio allocations, which would double its investments in domestic and foreign stocks.
The double dose stimulus of the Bank of Japan and GPIF sent Japanese stocks higher, but the Yen fell against the U.S. dollar. Currently, the Japanese currency is trading ¥113 per U.S. dollar.
Winners from weakening Yen
Soros Fund Management profited hundreds of millions of dollars from betting against the Yen since Friday, according to a Wall Street Journal report by Greg Zuckerman based on information...
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