Currencies

Managers of the Ruffer Investment Company have raised exposure to sterling on the portfolio to its highest position ‘for many years'.

China has surprised investors by weakening its currency almost 2% lower after a weekend of poor trade data, sending shockwaves through other Asian currency markets.

Ugo Lancioni, head of global currency at Neuberger Berman, takes a closer look at some of the consensus currency positions of last year, and asks if they are still compelling.

An overheated exchange

John Wyn-Evans, head of investment strategy at Investec Wealth & Investment, takes a closer look at the global impact of recent currency wars and a future rise in US interest rates.

Tilney Bestinvest has removed its currency euro and yen hedges in the belief that the macroeconomic factors driving weakness in the currencies have now subsided.

Renewed yen weakness could bring about a fresh global currency war resulting in a 'tidal wave of deflation' in China and the West, Société Générale's Albert Edwards has warned.

Peter Elston, chief investment officer at Seneca Investment Managers, investigates the pros and cons of forex hedging.

Single investment region?

The managers of the Ruffer investment company have slashed their exposure to the US dollar on fears it is no longer fit to act as a hedge, and have moved into the Japanese yen instead.