FX managers switch dollar shorts to emerging markets crosses


For those in the market, the current trend in FX is trading the dollar imbalance against emerging market currencies, but some hedge fund managers are abandoning the strategy altogether, claiming that it makes no economic sense.

Jason Daw, senior G10 FX strategist at Merrill Lynch says: "The US dollar versus euro, and Canadian dollar story is pretty much played out. Emerging markets are the place to have money at the moment."

He sees strong plays in Asia in non-Japanese currencies such as the

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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