7IM launches emerging market currency product

Developed with Goldman Sachs, the product is designed to implement the firm's key tactical calls on foreign exchange, in a risk-controlled manner. Justin Urquhart Stewart, director at 7IM, explained that he continued to see Sterling as vulnerable as it appeared to be over-valued on several measures, the UK current account deficit remained wide and the fiscal position was not encouraging. "Likely further cuts to interest rates reduce the yield appeal that has helped maintain Sterling's strength in the past two years," he said. "Despite the likely impact of a developed world slowdown on t...