Managing currency risk: the buy-side perspective

What has been your most profitable trade so far this year and what was it based on?

Alessandro Balsotti, FX macro portfolio manager, JW Partners: Short euro versus a basket of US dollar, British pound, Canadian dollar and Turkish lira. I expected a continuation of too-little-too-late policy reaction to the on-going eurozone crisis, an ECB forced to accommodate and worsening European economic conditions. In such a scenario, I thought a good risk-reward trade was - and still is - shorting euro