JP Morgan Chase and market data vendor Bloomberg have teamed up to launch a tradable index of currencies from Asian emerging markets.The Bloomberg-JP Morgan Asia currency index, which is only available via Bloomberg market information terminals, is designed to be a spot index of the most actively traded currency pairs in Asia’s emerging markets valued against the US dollar.
The index should act as a benchmark for aggregate monitoring of Asia’s currency markets, according to JP Morgan Chase.
“The Bloomberg-JP Morgan Asia currency index is an important step forward for the Asia currency markets,” said David Puth, JP Morgan global head of currency and commodities. “For the first time we are providing the ability to monitor currency moves and leverage currency exposure.”
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