Currency exchange-traded products rise as Ireland falls
Currency ETCs have reached all-time highs as Ireland's impact on the eurozone sees the US dollar rebound.
Currency exchange-traded products (ETPs) have seen assets under management (AUM) rise 16% in mid-November as investors move to hedge their euro risk as concerns about Ireland's debt problems spread.
"Ireland has had a massive impact on the forex market," says Martin Arnold, senior analyst at ETF Securities in London. "In the last two weeks we have seen huge flows into currency ETPs. In terms of volume trades they have been well above the weekly average; in the week before last we saw an 80%
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