JPMorgan Asset Management Cuts Yuan Bets as $4.3 Trillion Firm Turns to Higher-Yielding Currencies
Updated
Updated · Bloomberg · Jul 6
JPMorgan Asset Management Cuts Yuan Bets as $4.3 Trillion Firm Turns to Higher-Yielding Currencies
1 articles · Updated · Bloomberg · Jul 6
Summary
JPMorgan Asset Management has scaled back its long yuan positions against the dollar in recent weeks, dialing down a trade that had benefited from the Chinese currency’s earlier strength.
Julio Callegari, the firm’s Asia fixed-income CIO, said the shift reflects cooling yuan outperformance and a move toward higher-yielding currencies.
South Korea’s won is now a key focus: Callegari expects one of Asia’s worst-performing currencies this year to become a major surprise heading into 2027.
The repositioning by the $4.3 trillion asset manager signals a potential turn in a regional currency trade that had favored a strong yuan and weak won.