Aligning with the new world

The growing consensus is that there is no safe-haven – except perhaps cash. However, currencies that sit on the sidelines, such as the Singapore dollar, are fast gaining attention as a unit of choice to gain from any upside, but avoiding the downside, in the ongoing euro saga.

Axel Merk, chief investment officer at Californian mutual fund company Merk Investments, was among a handful of managers that dumped the euro in the run-up to the French and Greek elections. Instead, he opted to gradually