John Taylor, founder of the currency hedge fund FX Concepts LLC, said he is ending bets that commodity-based currencies will appreciate as slowing Asia growth damps metal prices. “If you look at Australia or South Africa, these currencies have come under a lot of pressure as commodity prices in general, copper, steel, iron and iron ore, have been heading lower,” Taylor said in an interview on Bloomberg Television’s “InBusiness with Margaret Brennan.” China’s growth “is headed in the wrong direction. Imports of certain critical material are going down, and prices are going down on the products that it imports. It just doesn’t look healthy.”
FX Concepts’s Taylor Exits Bets on Commodity Currencies
John Taylor, founder of the currency hedge fund FX Concepts LLC, said he is ending bets that commodity-based currencies will appreciate as slowing Asia growth damps metal prices. “If you look at Australia or South Africa, these currencies have come under a lot of pressure as commodity prices in general, copper, steel, iron and iron ore, have been heading lower,” Taylor said in an interview on Bloomberg Television’s “InBusiness with Margaret Brennan.” China’s growth “is headed in the wrong direction. Imports of certain critical material are going down, and prices are going down on the products that it imports. It just doesn’t look healthy.”