Fidelity Japan Trust (FJV ) fund manager Nicholas Price tells Citywire’s Gavin Lumsden about the prospects for the yen and its potential impact on sterling investors.

This is the fourth short video excerpt from our virtual event with Price this month. If this whets your appetite, you can watch the whole 45-minute ‘Big Broadcast’ here.

Can’t watch now? Read the transcript

Gavin Lumsden:

Your half-year results recently showed that the yen had fallen over 13% against the pound in the first half. I know you’re a stock picker first and foremost, but do you have any comments on the impact currency moves have on UK investors into Japan?

Nicholas Price:

As I mentioned, I think in the longer-term chart shows that despite those currency moves, the market’s been generally a good market to be in. I think my view, though overall, from a slightly macro perspective, is that we are likely to see a peak out of US rates at some point and additionally also, probably some Japanese tightening from the BoJ [Bank of Japan]. So, I have a view generally, that we’re more likely to see a stronger rather than a weaker yen over the next 18 months or so. So, I think UK investors, if they’re investing in sterling, may also benefit, potentially, if the yen strengthens a bit.