Blog: Sharp currency movements
Dave Leggett | 24 October 2008
The support auto companies have had from emerging markets (Fiat enjoyed support from Brazil in its Q3 results announced this week) could be about to enter a very tricky phase. Hedge funds and institutional investors are getting out of certain places perceived as potentially risky (notably Korea, South America and Russia) and their currencies are heading south at a rapid rate. That's okay if you export from there, but not if you export into these markets. It's something to keep an eye on. Mind you, sterling is also in the same category because of the ailments here. But again, that will benefit UK-based exporters.
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