FX Week

Currency funds continue to fall

Funds reported mixed results, with only 37% achieving positive returns and a performance range of between 4.25% and -10.97%. UBS O’Connor of London was the top performer for the month, followed by Dynexcorp of Geneva, up 2.73%.

Peter Panholzer, chief investment officer at Dynexcorp, said July was a difficult month as euro/dollar traded tightly around 1.1350 and dollar/yen stuck at 119. "Such sideways swinging months have usually been difficult to handle for long-term traders," he said, adding