Australia’s Second-Largest Pension Makes Big Bet on Yen Strength

Australia's second-largest pension fund increased its holdings of Japanese yen to the highest overweight position in several years, based on expectations that Bank of Japan interest rate increases will drive yen appreciation. The fund's strategy reflects a view that current market pricing does not fully account for potential rate hikes by the central bank. The fund's name and specific position size were not disclosed in available reports.

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