Bloomberg – Hedge funds are losing confidence in Bank of Japan Governor Haruhiko Kuroda’s ability to keep depreciating the yen to boost growth and banish deflation as they wait for a second round of monetary easing to materialize.
Speculators and other leveraged investors have trimmed bearish wagers on Japan’s currency by more than 60 percent since a peak in December. The yen has strengthened 3.6 percent versus its developed-nation counterparts this year, the biggest advance in Bloomberg Correlation-Weighted Indexes and a turnaround from 2013, when it fell the most in three decades.
