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Nippon Life to reduce foreign bonds without FX hedge on bullish view on yen

10/25/2021 | 04:00am EST

TOKYO, Oct 25 (Reuters) - Nippon Life Insurance, Japan's top life insurer, plans to reduce its holdings of foreign bonds that are not currency-hedged in the half-year to March, a top investment planning official said on Monday.

Nippon Life expects the yen to strengthen to around 108 per dollar by March on the view that U.S. inflation fears will be peaking out soon, Shinichi Okamoto, executive officer of finance and investment planning told a news conference. (Reporting by Hideyuki Sano Editing by Chang-Ran Kim)


ę Reuters 2021
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