6 Dec 2013
Yen slides on GPIF headlines
FXstreet.com (Bali) - The Japanese Yen is depreciating in the tune of 20+ pips ahead of the European session after headlines crossed the wires concerning the GPIF (Government Pension Investment Fund).
Takashito Ito, chairman of government appointed panel, spoke on GPIF, saying: "Changes advised by panel will help support weak yen, GPIF should create new core portfolio by mid-2014, should reduce local bonds to as little as 35%, needs to start selling bonds now, should raise Japan stock holdings to 18% now with changes help support stock prices."
Takashito Ito, chairman of government appointed panel, spoke on GPIF, saying: "Changes advised by panel will help support weak yen, GPIF should create new core portfolio by mid-2014, should reduce local bonds to as little as 35%, needs to start selling bonds now, should raise Japan stock holdings to 18% now with changes help support stock prices."