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Currencies’ risk rally won’t last

Posted on 11 October 2012

Risk-sensitive currencies have been on a roll, but these strategists say the fun is about to end. If you’ve been riding risk-sensitive currencies, you’re probably feeling pretty smart. The Norwegian krone, Canadian dollar, and Mexican peso have seen significant gains as events like the Fed’s QE3 announcement and the European Central Bank’s plan to launch new bond buying have kept investors in a buoyant mood.
Sadly, the party is just about over, say Nick Bennenbroek and Vassili Serebriakov, currency strategists at Wells Fargo. Investor positioning, a lack of good news on the horizon, and the prospect of a sudden end to big U.S. tax breaks are beginning to weigh on risk appetite, they say………………………………………..Full Article: Source


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