Currency markets can be a lot like equity markets in that over or under-valuations can stay stretched for longer than one might think possible, before mean reversion inevitably kicks in. Maintaining an effective FX process for the long-term requires special attention to these questions of fair value, while also keeping an eye on the day-to-day headlines and short-term price dislocations that offer opportunities for alpha. Aaron Hurd, a senior portfolio manager at State Street Investment Management, joins the podcast this week for a wide-ranging discussion on FX, from how to think around these long-term drivers of portfolio construction, to current views on the major currencies, particularly where the US Dollar goes next.