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This is London – It also led many in the City to believe the Bank favours a weak currency, prompting a series of downbeat ­forecasts today. “I’m super bearish on the pound,” said Hans-Guenter Redeker, the London-based head of foreign exchange at BNP Paribas.

“The Bank of England has made it clear it can’t afford a stronger ­currency.” He forecast the pound would fall to $1.50 in 12 months.

John Taylor, chief executive of New York hedge fund FX Concepts, said sterling will “get crushed” and sink as low as $1.45 in the coming months.

“The fundamentals in the UK are certainly not pretty,” he said. “It’s a race for the least ugly of the candidates, and I would argue that the US is going to be the least ugly for a while.” Others were more upbeat and said the ­measures taken by the Bank and the Government to ease the slowdown will boost sterling. HSBC predicted the pound would rise to $1.75 by the end of next year — midway between the high of $2.12 in November 2007 and the low of $1.38 in March this year.

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Tags: 12 months, bank-of-england, bnp-paribas, chief-executive, currency, foreign exchange, fx-concepts, guenter, hedge fund, hsbc, john-taylor, measures, midway, redeker, slowdown, sterling, this is london

West Palm Beach (HedgeCo.net)- Recent news from Reuters shows that there is a booming interest in foreign exchange markets. According to the article, FX traders are seeing an increasing demand from institutional players, pension funds, and corporations. However, searching the internet will reveal few true FX hedge funds.

Tri Global FX, a New York based FX management company, has been managing FX accounts on behalf of customers for several years. The firm’s head trader, Gregory Cotter, was a Chief trader at Societe Generale from 1998 – 2004, and has held similar positions at institutions such as Swiss Volksbank, Banque Indo-Suez, Credit Suisse, First Chicago, and European American Bank.

Recently, Futures Magazine has ranked Mr. Cotter a top trader in 2007. Their managed accounts program, Metro Forex, has been top ranked by Currency Trader magazine and by the Barclay Institutional Report.

Tri Global FX is pleased to announce the launching of a new FOREX hedge fund, Cable Forex Funds. More details about the fund can be obtained by registering at their website, http://cableforexfunds.com/.

There are few true FOREX hedge funds, Cable Forex Funds aims to be a leading fund in the FX market. With an uncertain economy, volatile markets, and a declining dollar, any portfolio should include FX. Even if the US Dollar recovers, it can still have a negative impact on a portfolio as traders have been investing overseas during recent EURO boom. FX is an asset class by itself, in addition to providing additional alpha to any portfolio.

Editing by Alex Akesson
Email: alex@hedgeco.net

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