Mutual fund flows are increasingly relevant for FX

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Over the next decade European pension reform will substantially increase the amount of funds under management in Europe. And this will have important implications for investment and cross-border capital flows, says Sonja Hellemann, FX strategist at Dresdner Kleinwort Wasserstein in London

The Organisation for Economic Co-Operation and Development (OECD) predicts that in forty years time the European old age dependency ratio (over-65s as a percentage of the working population) will have risen to

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