Dollar/yen fears trigger rise in Japanese hedging
TOKYO - Japanese firms were the most aggressive G-3 hedgers in the third quarter this year, according to a survey of JP Morgan's corporate clients released last week.
They increased year-end hedging ratios - a measure of the proportion of their expected foreign exchange turnover for 2009 hedged against currency movements - by 37 percentage points to 86.74%, as revised forecasts for USD/JPY predicted a much weaker dollar by year-end.
Japanese respondents to the survey said they expected the
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