A sea change may be happening in the currency markets, putting at risk outsized currency-related returns that unhedged Australian investors have enjoyed this year and paving the way for portfolio rotation.
"The US dollar was the big call that you either got right or wrong this year," JP Morgan strategist Kerry Craig says. "Currency can have a significant effect on your returns."
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Sarah Turner is the editor of the AFR Weekend Perspective section based in our Sydney newsroom. Email Sarah at s.turner@afr.com
