TOKYO -- Speculators are pulling away from exchange-traded funds that profit from a weak yen, seeing strength ahead for the Japanese currency as doubts emerge over U.S. policy.
ProShares UltraShort Yen, a U.S. ETF betting against Japan's currency, is seen as a weathervane for the sentiment of hedge funds and other short-term investors. Net assets have shrunk to $224 million, the lowest since last July, when the yen traded at around 105 against the greenback.
