BofA Survey: Investors Are Turning Bullish on Yen by 2026

Investors Expect the Highest Returns in 2026

A recent survey by Bank of America revealed that global investors expect the highest returns from the Japanese Yen in 2026. The survey follows the yen's weak performance against the dollar in 2023. According to the report, the Japanese Yen is expected to show a strong recovery, outperforming other major currencies.

Opinions of Survey Participants

In the Bank of America survey, which involved around 170 fund managers, one-third of the investors indicated the Japanese Yen as the asset expected to perform the best in 2026. Following the yen, investors preferred gold and the dollar. The British Pound was chosen by only 3% of respondents, placing it at the bottom of the list.

Yen's Performance and Future Expectations

The prominence of the Japanese Yen in the survey is noteworthy, given its only 1% gain in value this year. The yen had shown the weakest performance among G10 countries. However, investors believe that a different scenario may unfold in 2026.

Gold and Dollar Performance

This year, gold reached record levels due to geopolitical tensions and purchases by central banks. On the other hand, the Bloomberg Dollar Index faced a 7% loss, marking its weakest annual performance since 2017, amidst economic uncertainties in the U.S.