TwentyFour AM introduces currency hedge ahead of French election

Election to be held on 23 April

Laura Dew
clock • 1 min read

TwentyFour Asset Management has hedged its portfolios in the run-up to the French election this Sunday with a new currency position.

The firm said it had already taken some risk off its portfolios in the run-up to the election, but took advantage of the sell-off in the US dollar to put further hedges in place. Polls are suggesting a battle between candidates Emmanuel Macron and Marine Le Pen, but there remains a threat from far-left candidate Jean-Luc Melenchon who has seen a recent surge in support. The latest hedge against potential turmoil in Europe employed by TwentyFour is via an option position on a weaker euro versus the US dollar. T.Rowe Price's Orchard: What will be the impact of the European election o...

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