gffx.gfx@db.com
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Global Finance names the World’s Best Derivatives Providers 2011 Europe
Asia
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J-Money Tokyo FX Poll 2011
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Euromoney, FX Survey 2011
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Profit & Loss Digital FX Awards 2011 Autobahn awarded
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Euromoney, FX Poll 2010
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Profit & Loss Digital FX Awards, 2010
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Global Finance World's Best FX Banks Awards
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Finance Asia Achievement Awards 2009
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Deutsche Bank Foreign Exchange
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New Drivers?
The “risk on/risk off” theme that has seemingly dominated in recent years could well take a back seat in 2013. Already, currencies have become less correlated. Other markets, such as equities, are seeing something similar (at least with single stock correlations). FX carry has decoupled from equity markets over the last quarter
of 2012 (check out our equity-neutral carry basket theme). At the macro level, divergent growth across the major regions and lower tail risk emanating from the Euro-area should underpin a more varied and fundamentally-based performance of FX in 2013. The twist for 2013 will likely be that rather than monetary policy driving the trends in
FX, it could be flows, whether current account, portfolio flows, FDI or short-term capital.
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