currency

George Soros has reportedly made £40m in a day through a short position on the Australian dollar.

Central banks are pursuing domestic priorities and are not engaged in competitive devaluation, a senior Swiss economist told delegates at the recent FX Invest conference.

Hedge fund giants are said to be preparing to short sterling after it fell to its lowest level against the dollar since July this week.

First State Investments is to launch a local currency emerging market debt fund to sit alongside its existing hard currency OEIC.

European Central Bank policymaker Jens Weidmann has warned that putting pressure on central banks to pursue more aggressive monetary policies could spark 'currency wars' in the future.

Sterling fell against the dollar as Chancellor George Osborne announced the UK's fiscal austerity programme would be carried through to 2018.

The IMA has been questioning fund groups over their exposure to currencies in their fixed income funds, with the view to tightening sector definitions.

Schroders has launched a renminbi bond fund for new recruit Rajeev De Mello, who joined from Western Asset Management last year.

Investec has reported its results for the half year to 30 September, a period which saw its business impacted by a depreciation in the South African rand.

Argo Group has launched an emerging markets hedge fund investing in bonds and currencies from a universe of over 40 emerging market countries.