Fri, Oct 9, 2015
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. Investing - AQR Capital and Renaissance Technologies raise stakes in Southwest Airlines[more]

    From In the previous part of this series, we saw how institutional investors played Southwest Airlines (LUV) in 2Q15. Now let’s move on to the trades executed by key hedge funds in Southwest Airlines over the same period. … Most of the hedge funds that had significant exposu

  2. Manager Profile - Pimco alternative funds flourish as 30-year bond rally fades[more]

    From Inside Pacific Investment Management Co., the bond behemoth that lost two chief investment officers last year and saw almost $500 billion of client money leave, a hidden profit engine is easing some of the pain. For more than a decade, Newport Beach, California-based Pimco has qu

  3. Niche Investing - Art investment funds: Attracting institutional and other new investors[more]

    From The Deloitte/ArtTactic Art and Finance Report 2014 (the "Art and Finance Report") noted that the "global art investment fund market was estimated to be worth at least $1.26 billion in the first half of 2014." This seems almost inconsequential when juxtaposed with the $54 billion of

  4. Hedge fund Barnegat survives September’s market selloff[more]

    Komfie Manalo, Opalesque Asia: Bob Treue’s $679 million Barnegat Fund proved resilient after another month of market letdown as the hedge fund gained 2.2% last month, bringing its year-to-date gains to 2.8%. Treue said in his monthly report to i

  5. …And Finally - Japanese men want upgrade on their virtual girlfriends[more]

    From Five years after News of the Weird mentioned it, Japan's Love Plus virtual-girlfriend app is more popular than ever, serving a growing segment of the country's lonely males -- those beyond peak marital years and resigned to artificial "relationships." Love Plus models (Rinko