FX managers switch dollar shorts to emerging markets crosses

FX

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 T

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