FX Week

Currency managers up in December

Of the 48 programmes in the index, 83% reported positive results, with the monthly return up 3.87% overall for the month of December 2002. Despite a string of weak months, the index was up 7.99% for the full year, the firm said.

The month’s performance owed much to the European currencies, particularly the strengthening euro, said Julius Staniewicz, senior strategist at top performing fund in December, John W Henry & Company. "The re-emergence of the [euro] strength seen earlier in the year a