Euro's rally proves costly while yen offers chance to go short

Foreign exchange

The euro/dollar cross has given way in some foreign exchange portfolios to trading in other rates but March proved a difficult month for some.

The model for the Appleton 25% Risk Program started March with a long dollar/yen and long euro/yen cross, and delved into peripherals with a long euro position versus the Canadian dollar.

David Walsh, managing director and CIO of the Dublin-based fund managers, says the weak yen was the model's main theme in March's early weeks.

"Low forecast volatility for

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