At No. 2 for a second straight year is the Nomura International trio captained by Geoffrey Kendrick in London. The strategists, who cover the currencies of the Group of Ten nations, have been “stellar in their coverage of the euro crisis and its mechanics,” cheers one U.K.-based client. “Given how low volatility has fallen across foreign exchange,” Kendrick says, “we are looking for opportunities to buy higher beta currencies” outside the G-10, such as the Australian dollar, the New Zealand dollar, the Polish złoty, the Russian ruble and the South Korean won. Market dynamics can have a more immediate effect on these currencies, he adds, citing the recent dramatic jump in iron-ore prices as an important driver for the Australian dollar. “This year is feeling more like one where you need to be opportunistic,” the team leader observes. — Carolyn Koo |
Economics & Strategy – Currency & Foreign Exchange: 2013 Second
