Given expectations of another 25-bp Fed cut in 2019, UBS Global Wealth Management believes the low-interest rate environment augurs well for carry trade strategies. “In our FX strategy, we overweight a basket of higher-yielding emerging market currencies (Indonesian rupiah, Indian rupee, South African rand) against a basket of lower-yielding currencies (Australian, New Zealand, and Taiwan dollars),” the bank said. “These currencies…
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