Currency set to grow from infancy

Currency overlay techniques, once the province of pension funds and other institutions, are fast becoming available to HNWIs seeking diversification.
Currency management, to the uninitiated, is getting a fistful of dollars for a handful of euros to spend during a trip to New York, and using whichever booth at Paris Charles de Gaulle or Roma Leonardo da Vinci offers the best deal to make the trade. But to the sophisticated private investor, active currency management is an asset class in its own right. One, moreover, which not only may offer impressive returns but is also relatively liquid, reassuringly uncorrelated to the major equity and bond markets, and less market dependent than buy and hold strategies.