Bank of America survey: Global fund managers' bearish sentiment towards the Japanese yen reaches its highest level since 2022

Bank of America strategists Ralf Preusser, Adarsh Sinha, and others wrote in a report on July 10: "Investor bearishness on the yen exchange rate has reached its highest level since 2022, driven mainly by monetary policy and fiscal policy risks." According to a Bank of America survey, 40% of the traders interviewed are bearish on the yen due to Japanese fiscal and central bank policy risks, up from 35% in June.