George Soros Currency Bets #Brilliant

George Soros Currency Bets #Brilliant

George Soros is going after the Japanese Yen JPY and the Great British Pound GBP.

In the case of the Yen, the new Prime Minister Shinzo Abe has come into power with an aggressive easing agenda both monetary and fiscal. The JPY has been getting hammered since November.

In the case of the GBP, the currency is weakening on a combination of weak economic prospects, a worsening balance of trade, and the expectation that newly incoming Bank of England chief Mark Carney will be inclined to ease policy further, it has been getting hammered all year,
And George Soros is apparently going after both currencies.

The FT’s reports: Ask some of the world’s biggest hedge funds where they are watching for the next big shift in global markets and many will point to the same place: Sterling. Having made billions successfully shorting the Yen since November, top global macro traders, funds such as Soros Fund Management, Tudor Investment Corporation, Caxton Associates and Moore Capital are increasingly looking at the GBP.