Corporate foreign exchange news
Krona touted for euro risk management
Monday, 01 March 2010 09:15:26 GMT

Foreign exchange traders have been advised to take long positions on the Swedish krona to avoid the fallout from the Eurozone debt crisis.Bloomberg data showed that the krona enjoyed its strongest month since January 1999 last month, recording growth of 5.5 per cent.This outstripped all but one of the 156 currencies tracked by Bloomberg, with the Brazilian real recording stronger growth.The real was the strongest performing country in 2009, appreciating by more than a third during the year.Richard Benson, an executive director at Millennium Asset Management currency hedge fund in London, told the news agency that such phenomenal gains are rare in commercial currency exchange markets, but the krona looks like a good bet."In this world of zero yields, when you have a country with sound financials and a central bank that's bringing forward rate hikes, the currency is going to attract a lot of attention," he explained.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site



