“Some investors make their biggest money in times of market volatility, but that wasn’t the case for currency hedge funds last month.
They suffered from the dollar’s moves up and down, The Wall Street Journal reports.
The Parker Global Currency Managers Index, which tracks the returns of 17 funds in which Parker Global Strategies invests, dipped 0.58 percent last month, according to preliminary data from the company.
That compares with a 2.1 percent gain for the Standard & Poor’s 500 Index.
The dollar index, which measures the currency against six major counterparts, moved up and down between 81 and 85 in May. That’s a trading band of 5 percent from bottom to top.
The volatility has come among uncertainty about when the Federal Reserve will begin tapering its quantitative easing policy….”
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