[NEW YORK] Hedge funds are betting on another run of yen weakness, a trade that made money earlier this year for billionaire George Soros, putting them in opposition to economists who see Japan's currency little changed into next year.
Futures traders pushed net shorts, or wagers that the yen will fall versus the US dollar, to the highest since July 2007, according to the Commodity Futures Trading Commission. That contrasts with the median estimate of more than 50 analysts surveyed by Bloomberg, which puts the currency at 102 per dollar at the end of the first quarter of 2014, from 101.43 as of 2 pm in Tokyo yesterday.
Japan has resorted to an unprecedented US$70 billion of monthly bond purchases...
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