Currency Managers Throw Out the Playbook as Trusted Models Fail
- Money managers seek to adapt their foreign-exchange strategies
- Trend-following, carry, momentum don't prove profitable path
This article is for subscribers only.
Currency managers battered by the failure of most major trading strategies this year are switching tactics.
Adnan Akant, who has more than 30 years of experience in foreign exchange, said his firm has reduced the size of its positions to react to, rather than anticipate, market surprises, while Robert Savage, a hedge-fund manager and former chief strategist at FX Concepts LLC, is looking for currencies that correlate with other assets such as oil and gold.