03.08.2016 - Currency Traders Ensnared by Volatility See 2016 Losses Deepen
Money managers trading in the $5.3-trillion-a-day currency market can’t catch a break. The investors have endured a five-month slump, their longest losing streak in foreign exchange since 2013. What was shaping up as the first monthly gain since February turned into yet another bust, after a rough stretch last week left the Citi Parker Global Currency Manager Index down 0.9 percent in July and on pace for a second straight annual drop. Profits evaporated as a surprisingly weak U.S. economic growth report and smaller-than-expected stimulus from the Bank of Japan spurred a bout of volatility that the funds failed to capture. The pain shows no sign of subsiding...............................................Full Article: Source
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