How Amundi’s options strategy profited from dollar slump
French asset manager grabbed euro call options at low prices in tactical pivot for its FX absolute return fund
Entering 2025, the prevailing macro theme throughout the investment community was that the US dollar would continue its dominant path.
Years of US exceptionalism – driven by a booming equity market and a resilient labour market – had cemented the currency as a must-have hedging tool in most portfolios. For example, if there was a risk-off event, such as Russia’s invasion of Ukraine, the dollar was
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