US hedge funds turn bullish on the euro

From the Financial Times: “….Over the past two years US investors have raised money for opportunities in Europe without actually finding much to do, but this is starting to change, says Ray Nolte, chief investment officer of the $8bn fund of funds group SkyBridge.

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For instance, “European banks remain wary of Greek businesses that still need access to capital markets, and some hedge funds are starting to fill that role”, he says.  Meanwhile, former bears on Europe’s single currency have been converted…..

http://www.ft.com/intl/cms/s/0/a1b50b64-bba8-11e2-82df-00144feab7de.html