Deutsche captures currency convergence across Asia


Deutsche Bank has launched a set of indexes designed to capture returns generated by what appears to be growing coordination of currency policy among Asian central banks. The indexes, dubbed DB Asia Convergence, simulate a market-neutral strategy exploiting an increase in correlation among local Asian currencies in up to 12 markets. The trend is a result of the widespread use of trade-weighted currency baskets in the region, which Asian central banks use to protect export competitiveness.

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