Amundi Aggressively Buys Commodities Currencies, Deeming Them Unbeatable

Amundi is accumulating currencies closely tied to commodity prices, considering them a prudent choice whether the next phase of the Middle East conflict escalates further or moves toward peace. Andreas Koenig, the company's global head of foreign exchange, stated that it remains unclear how and when the Iran conflict will conclude, leading him to buy currencies from commodity-exporting countries including Brazil, Mexico, Colombia, Australia, and Norway. "If the crisis is resolved, investors will engage in high-risk preference trading, and these high-beta currencies will benefit," he added. High-beta currencies are those that tend to appreciate when investors are willing to take on risk.