HSBC Holdings Plc, which gets more than half of its revenue from emerging markets, says it’s time to start buying their currencies after a selloff pushed exchange rates to their lowest levels since 2009.
Investors are shunning foreign- exchange markets because currency moves are proving difficult to predict as more countries roll out stimulus programs, according to David Bloom, head of currency strategy at HSBC Holdings Plc.
Jane Pierce spent nine years struggling alongside her husband, Todd, as he fought cancer in his sinus cavity. The treatments were working. Then, in July 2009, Todd died in a fiery car crash. He was 46. That was the beginning of a whole new battle for Jane Pierce, this time with Todd’s life insurance company, MetLife Inc.
The dollar is unlikely to suffer a “cataclysmic selloff” should the U.S. lose its AAA credit rating, given investors’ limited alternatives to the world’s reserve currency, according to HSBC Holdings Plc.
Investors should buy the krone against the euro after the Norwegian currency fell to the weakest in 2 1/2 years last month, according to David Bloom, global head of currency strategy at HSBC Holdings Plc in London.