Investors are shorting the euro via exchange-traded products (ETP) as they become increasingly risk averse amid the Greek debt crisis, according to ETF Securities (ETFS).
The issuer says its ETFS Short EUR Long USD has been the most popular trade this year, attracting 50% of new assets. In terms of turnover, ETFS says 80% of trading volumes in its currency products have occurred in ETCs which are long USD and short G10 currencies, with ETFS Short EUR Long USD taking a 21% share of trading volumes since inception. ETFS senior analyst Martin Arnold says: "The eurozone is firmly in the spotlight for FX investors, with Greece's debt problems weighing heavily on the euro." He adds: "Investors are not only looking to ETFS Short EUR Long USD to implement ‘...
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