‼️ 🇯🇵 Australian Retirement Trust, Australia’s second-largest pension fund with about A$370 billion ($265 billion) under management, has built its largest yen overweight in years, betting markets are underpricing further Bank of Japan rate hikes. The fund added to the position over the past six months as the currency weakened toward ¥160 per dollar, taking a contrarian bullish stance while many investors remain positioned to sell the yen.
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