Fidelity Sees Rupee as Top Carry Trade Pick on RBI's Tight Grip [BNN Bloomberg (Canada)]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: BNN Bloomberg
The rupee rewards investors with a high yield than regional peers, and together with low volatility, makes it “arguably one of the most attractive currencies on the planet,” Paul Greer, a money manager at Fidelity in London, said in an interview. The Indian rupee is among the most stable Asian currencies, thanks to repeated interventions from the Reserve Bank of India, as it seeks to slow its decline near a record low. That strategy has its risks as traders may face losses in case of a sudden policy shift. “When I look at the Indian rupee, I don't think about it as an appreciation trade,” said Greer. “Because RBI has been so tight on both sides of the range, the carry-to-volatility ratio is what many investors are attracted to.” Even while the rupee fell to a record in April, it remains the best-performing Asian currency this year. The currency is down just 0.2% against the dollar, while the Indonesian rupiah and Thai baht have declined more than 5%. Underpinning the appeal o
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