Fri, Apr 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Euro set to be best performing major currency for 2013

Thursday, January 02, 2014

Komfie Manalo, Opalesque Asia:

The euro capped 2013 with a 26% gain against the Japanese yen and 4% against the U.S. dollar, according to a Reuters report. Although on Tuesday, the euro was 0.2% down at $1.3775, and 0.4 % down at 144.60 yen.

The strong performance of the euro contrasts earlier predictions by hedge fund managers who expected a weak eurozone economy and a strong dollar from the Fed’s QE tapering.

Currency hedge funds have been at the mercy of central bank policy and may indeed continue being so this year. FX Concepts, which closed last year, is a notable victim of the harsh environment for such fund strategies.

The Parker FX Index reported a -0.26% return for the month of November and -1.04% YTD.

The euro's strength was perhaps the biggest surprise in currency markets in 2013, reports the Wall Street Journal. Investors had large short euro positions at the beginning of the year. Only four big banks anticipated in early 2013 that the euro would appreciate by the end......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Performance - Blackstone profits plunge 77% as performance fees dive, Hedge fund stars' fortunes hostage to market swings, Hedge fund manager goes from billionaire to millionaire in profits plunge, Hedge funds biggest losers in SunEdison's 'magic money machine'[more]

    Blackstone profits plunge 77% as performance fees dive From FT.com: Blackstone, the world’s biggest manager of alternative investments from private equity to real estate, suffered from sharply lower performance fees amid turbulent markets in the first three months of the year, even as it

  3. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  4. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  5. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the