Currency managers lose ground in July


STAMFORD, CT -- Few currency fund managers saw positive returns in July, according to the Parker Global Strategies’ FX Index, released last week.

The index was down by 1.40% in July, with only 33% of the programmes contributing to it reporting positive results.

"The champagne corks popped too early," said Peter Panholzer, chief trader at the top-performing programme Dynex Coporation in Monaco, which was up by 6.13% in July. "After the general euphoria of reaching par with the dollar, the eur