FX funds fall flat in March

Yields slip as Fed guidance lowers hike expectations

flat-line
Funds flatlined: in March, yields sank on the Federal Reserve's dovishness

Yields for foreign exchange funds slipped to nil in March, failing to maintain the better-than-average returns of the first two months of 2016, after guidance from the Federal Reserve – lowering the number of rate hikes from four to two – drove the US dollar to fall against all G10 currencies.

Last month, 28 of the 31 funds reporting to the Parker FX Index registered an average return of –0.03%, with the best-performer achieving 6.23% and the worst –4.70%. On a risk-adjusted basis, the index was

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