Tapping into the strength of the emerging markets

Foreign currency funds have made profits from shorting the dollar against the euro, but many have started the move towards peripheral currencies to tap emerging strength as the US equity market and currency severe their strong correlation.

Gerry Grimes, managing director at Allied Irish Capital Management, says the weakening dollar has been the primary focus of many foreign exchange traders' activity as it recently approached and then dipped below par with the euro.

He adds that a disappearance o

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