Monday, February 23, 2009
Analysts Using Credit Default Swaps to Predict Currency Movements
High-level currency traders - such as analysts at Citigroup and Bank of Tokyo-Mitsubishi - are using credit default swaps to analyze the trend of currencies.
Specifically, according to an article in Bloomberg, many traders believe that the level of higher credit default swaps against a given country, the worse that nation's currency will do.
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