(Reuters) – Rangebound trading in major currencies this year is keeping hedge funds away from the forex market but turnover is on the rise on inflows from central banks and corporates, the head ofspot trading at Societe Generale said on Thursday.
Cedric Beaurain said the concept of foreign exchange as an asset class, which caught the attention of hedge funds after the 2000 equity bubble, is facing a test as they struggle to make money in pure currency plays and look to interest rate driven trades.
