'Perfect Round Trip' in Foreign Exchange |
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July 1, 2011
Currency markets gave investors a case of whiplash in the second quarter, as expectations swung from optimism about the global economic recovery to worries about a renewed slowdown and yet another flare-up of the European debt crisis.
Currency markets gave investors a case of whiplash in the second quarter, as expectations swung from optimism about the global economic recovery to worries about a renewed slowdown and yet another flare-up of the European debt crisis. "It was a perfect round trip," said Alessio de Longis, a portfolio manager at OppenheimerFunds. "In May, you had a whole sequence of events that really took the tailwind off of positions that were winning in April." The result was a volatile ride for the dollar, especially against the euro.
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