U.S. hedge fund
investor George Soros has gained about $1 billion since November betting
against the yen, the Wall Street Journal reported, citing people with knowledge
of the firm's position.
The yen lost nearly 20 percent against the dollar between
November and early February, picking up speed as Japan's new government put
pressure on the Bank of Japan to ease monetary policy more aggressively to
defeat deflation.
Soros Fund Management's internal portfolio, which has been
led by Scott Bessent since last summer, holds about 10 percent Japanese shares,
the paper reported, citing people close to the firm.
Read all about it at http://finance.yahoo.com/news/soros-fund-bets-against-yen-063548676.html
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