Foreign Exchange House - HSBC


It has been an odd year for the foreign-exchange structured products market. The first six months were relatively standard, volatility was a bit higher and currencies tended to be at extended levels. Investors took advantage of US dollar devaluation and continued buying currency baskets such as Bric (Brazil, Russia, India and China) trades. The market then whipsawed. "The past four months have been completely different," says Danny Goldblum, London-based global head of FX and precious metals str

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