Currency overlay on rise in Asia, says RBC Dexia

The prospect of yield pick-up in emerging markets has among other things attracted global asset managers to invest more in Asian markets and this has stirred demand for outsourcing currency risk management, argues RBC Dexia. Morgan McDonnell, the firm's head of global FX markets and product based in London, notes that it recently opened an FX dealing desk in Hong Kong, soft-launched to clients six months ago. This adds to its other dealing rooms in Sydney, Luxembourg, Madrid, Pari…