Demand for FX-linked structured products slows

“The rate cut could lead to renewed interest in the carry trade because of the widening of the rate differential with other currencies,” says one London-based head of FX structuring. “The problem with this is that as other currencies have cut their rates too, this differential is still not interesting enough to force people back to the carry trade.

Furthermore, the global economic crisis has led to a massive depreciation in emerging market currencies and carry unwinds, which means investor

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