Energy costs and hurricane Katrina hit currency funds
NEWS
The Parker FX Index, which measures the performance of currency funds, was forced down as currency markets reflected the adverse effect the hurricane and persistently high oil prices could have on the US and global economies.
The index was down 2.25% for the month of August, marking the first time in four months that the index has hit negative territory. On a year-to-date basis, the index was down 2.80%. Only 17 of the 60 portfolios in the index reported positive results and 43 incurred losses.
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