Insight's Thomas reverses US dollar underweight

Insight's currency specialist Dale Thomas has reversed his underweight to the US dollar as he repositions his fund for further euro weakness.

The manager of the £354m Absolute Insight Currency fund is set to double his exposure to the US dollar from 20% to 40% over the next week, as the recovery in the US economy becomes more pronounced and fears of future bouts of stress in the eurozone escalate. The fund has held a heavy underweight position in the dollar from December last year. “In periods of acute global market stress, the dollar tends to do well, and if the US economy is actually recovering as it appears to be, that will prove an additional positive for the dollar,” said Thomas. The manager added he would increase ...