Millennium Global launches currency strategy

The strategy, which goes live today (15 September), has raised over $100m in pre-launch funding. Millennium will take long and short positions in nine developed market currencies versus the US dollar. Yellen warns Congress of nearing US default Mark Astley, Co-CEO of Millennium Global, explained he sees currency as an alternative. "Returns generated from currency markets are typically uncorrelated with other asset classes and therefore provide attractive diversification benefits within most investors' asset allocation frameworks," he said. Astley added one of the reasons for th...