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Counterparty Radar: Asset supervisor’s bets on USD/JPY soured as yen weakened via This fall
Franklin Templeton dramatically shrunk its US greenback/yen overseas change choices positions throughout the fourth quarter, after name and put unfold trades betting on yen power in Q3 did not repay and led to a drag on outcomes.
The California-based asset supervisor had constructed the biggest FX choices ebook amongst US mutual and exchange-traded funds at factors over the previous two years, typically swapping the highest rank with Morgan Stanley Funding Administration. By the third quarter, its complete USD/JPY choices
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