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Foreign exchange - Algos a go-go

Rules-based foreign exchange structured products are becoming increasingly popular among institutional and high-net-worth investors. But are these investments having an impact on the highly liquid foreign exchange market? Mark Pengelly investigates

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Pitching foreign exchange products to investors can be a tough sell. Even the most sophisticated investors don't necessarily have a clear view on the direction of a particular currency. Foreign exchange also tends not to meet the requirements of many institutional investors, who want to benefit from any upside yet retain some certainty over repayment of principal.

Over the past 18 months, however

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