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GPIF urged to lower holdings of JGB’s

FXStreet (Barcelona) - According to sources, Reuters have subsequently reported that the Japanese government pension fund (GPIF) – the world’s biggest with a 1.2trln USD war chest – is being urged to cut low yielding JGB holdings.

They have instead been urged to increase their equity holdings from 12% to around 25% in order to boost returns. The proposal is for the GPIF to cut bond holdings from 60% to 40%. The fund is also likely to boost holdings of foreign equities.

GBP/USD struggles around 1.6100

GBP/USD opened the day around 1.6100, virtually unchanged from Friday’s close, after failing to consolidate above the psychological level despite several attempts last week.
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