Non-core currencies offer safe haven from Eurozone woes

The crisis in the Eurozone has created volatility for the continent’s primary currency, but a number of other currencies in Europe have benefited from investor demand for safe havens. The question now is whether this currency play has run its course

A safe bet: investors are seeking exposure to non-core currencies

In the developed world, post-crisis fears have driven many investors to opt for what they perceive as safe havens, notably US Treasuries and German Bunds. This was not simply a flight to quality, as it was sometimes labelled; rather it was liquidity that many investors were seeking. To that end, only established and deep sovereign bond markets like the US, Germany and the UK could provide the kind of liquidity investors wanted. While none of these countries could offer either enviable public