Investors Tear Up Playbook as Currency Market Lull Drags On
- MSIM’s Caron says he’s pared exposure amid tumbling volatility
- Amundi finds value in Scandinavia; for Russell it’s in EM
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The unprecedented level of calm pervading global currencies is pushing investors to rethink their approach to the $6.6 trillion-a-day market.
Morgan Stanley Investment Management has pared its foreign-exchange exposure, awaiting a clearer theme. Amid the trend-less torpor, Russell Investments Ltd. is focusing on value, and is forsaking major currencies in favor of those from developing economies. For State Street Global, that same approach leads to Scandinavia as the firm scours the Group-of-10 for opportunities.