Cash and carry

A variety of foreign exchange indexes has been launched over the past year, referencing the carry trade, momentum and valuation. How have these indexes performed in recent months? By Nikki Marmery

Making money from currency movements is notoriously difficult. Foreign exchange analysts at the world's top investment banks, with a mass of flow data, sophisticated models and comprehensive economic analysis at their fingertips, are often off the mark with their predictions of where spot rates will be in one month or one year's time. Retail traders, with little to go on but guesswork, are likely