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Published byかねろう かいて Modified over 5 years ago
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Great performance of US stocks in 2017, particularly for
US citizens, + 19 %, not noticing the erosion of their currency For a European investor who did not hedge, the FX rate move erased most of the gains
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Why the European investor did not hedge by selling his/her $ forward ?
Because early January 2017 just after the US presidential election, everyone was seeing the $ getting even stronger Quotes from major advisory institutions dated Dec16-Jan17 with DXY near 102 and €/$
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Well, not everyone actually:
This is how I started 2017 with my daily comment: My clients, being European for instance, were made aware of the risk for a weaker $ simply with the observation of a chart pattern. Consequently they could hedge their US currency exposure before it lost 13 % to the Euro
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