The current year has become the most difficult year for traders working in the Forex market in the last twenty years.. Bloomberg analysts have calculated, that following the results of the past ten months, three indexes of currency strategies of the Royal Bank of Scotland were in the red. A similar index of Barclays bank lost over the same period 0,4%, and German Deutsche Bank - 3,4%, which is the worst result since 1991 of the year. And this is in those conditions, when the observed instability of global financial markets should have played into the hands of experienced currency speculators. Experts associate this paradox with that relentless struggle, which the central banks of the countries conduct with the strengthening of the national currencies, suffering from economic slowdown.
Losses in the foreign exchange market this year began in the first days of January after, how Chile's central bank announced the acquisition 12 billion dollars to weaken the peso. As a result, within one week after the implementation of this decision, the Chilean currency fell immediately by 6%. Those Forex market participants, who had open large positions on it and did not have the opportunity to close them in a timely manner, found themselves at a big loss. After a while, the same kind of significant interventions were carried out by the central banks of Israel., South Africa and Brazil. And each time these manifestations of currency wars came under attack as large investment funds, as well as ordinary traders, with little capital and entered the market through affiliate programs.
Of all the major funds, with offshore jurisdictions and tracked by Bloomberg, GCM Alpha achieved the best performance in the foreign exchange market. The profit of this investment fund, owned by Global Capital Management NV, has been from the beginning of the year 13%. Such success is due solely to the fact, that the fund's automated trading system managed to close positions on the rise of the Swiss franc before, as the Swiss central bank stated, which will prevent the strengthening of the national currency above the level 1,2 for euros. It was after this decision that the franc collapsed to 21% from a record level in 1,0079 for euros. Besides, Global Capital managed to acquire dollars before, how in September the dollar index rose by 6,3% amid the deepening debt crisis in the euro area.
Meanwhile, most traders on forex aspiration financial regulators to stop the strengthening of the most profitable currency from the group of economically developed countries - the Swiss franc - brought significant losses. The same is true for the yen., as the central bank of Japan has carried out major interventions in the foreign exchange market twice this year. Little of, the country's finance ministry announced, which will take the most decisive measures to weaken the national currency. Not surprising, that the cumulative losses of foreign exchange traders, building trading on strict trend following, made in such unnatural conditions more than 3%. Now they, deprived of the opportunity to generate profit normally this year, we can only hope for that, that next year will be better.
