Foreign Exchange Hedge Funds
Foreign Exchange Hedge Funds Up 0.54% in July 2010
Foreign exchange hedge funds have returned half of one percent in July 2010, according to recent data. Parker Global Strategies LLC's index that follows the performance of foreign exchange hedge funds shows an increase of 0.54% last month.
The Parker FX Index returned 0.54 percent in July, compared with minus 0.05 percent during the past three months, according to a statement released today. The best-performing fund in the index returned 6.8 percent, while the worst returned minus 4.9 percent. The median return was 0.27 percent.
“In July, currency markets were defined by a significant decline in the U.S. dollar relative to most Group of 10 currencies,” the statement said. Positive news flow from Europe, and the U.S.’s weaker-than-expected 2.4 percent second quarter growth bolstered investors’ demand for higher-yielding assets.
The euro strengthened 6.7 percent against the greenback in July as the British pound advanced 5 percent and the Swiss franc gained 3.5 percent, according to data compiled by Bloomberg. The Swedish krona climbed the most of any European currency, rising 8.1 percent. All of the world’s 16 most-traded currencies appreciated against the dollar last month. Source
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