Yen

With currency moves increasingly dominating financial headlines, Tilney Bestinvest's CIO has predicted hedging, not asset allocation, will be the key differentiator for investor returns next year.

Michael Hasenstab, manager of the $39bn Templeton Global Bond fund, provides his macroeconomic outlook for 2015.

Oliver Wallin, multi-manager investment director at Octopus Investments, has called for more providers to offer hedged share classes on their funds.

Japan's economy shrank more than initially estimated in the third quarter of 2014, according to revised gross domestic product (GDP) figures.

It has been a turbulent couple of months for policy makers in Japan.