February 23, 2012

Hugh Hendry believes USDJPY will go down to 50s, 60s

He believes in coming risk-off, and that there will be a deficit of yens due to carry unwind. He shares that the catalyst will probably be Italian bond market collapse or a China crash along with Asian recession. He bought protection on companies with high sensitivity to the yen.

Hugh Hendry is a fund manager at Eclectica Asset Management. He has become prominent in the United Kingdom for his commentary on the financial crisis. Hendry has been referred to as "the most high-profile Scot in the controversial (Hedge Fund) sector."