Trump's Presidential Chances Are Pushing Traders Toward the Yen
- Moves after presidential debate offer guide for election night
- UniCredit says yen may surpass its forecast on Trump victory
Belski: Some Sort of Correction Likely in a Trump Win
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Even though polls show a receding chance of Donald Trump becoming U.S. president, money managers wary of public opinion being proved wrong are increasingly looking toward Japan for an ideal hedge.
Traders are unprepared for a victory by the Republican nominee that could send cash flooding into the yen, which acts as a haven in times of turmoil, according to investor and former International Monetary Fund Economist Stephen Jen. UniCredit Bank AG, among the most bullish forecasters on the Japanese currency, says it may strengthen past its year-end estimate if Trump wins.