Maillot jeune for Saxo
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Foreign Exchange

Maillot jeune for Saxo

Readers will no doubt have grasped that if you want almost guaranteed coverage in the weeklyFiX, send me news with a cycling theme.

I hear one French bank is seriously considering rolling out a line of structured FX products with names such as bidon, echelon and contre-le-montre for precisely that reason. Who knows, we may even get one called dopage offering superior performance.

Anyway, Saxo’s bold move to sponsor a cycling team is really paying off. On Sunday, one of team CSC-Saxo’s riders, Luxembourger Frank Schleck, moved into the overall lead of the Tour de France, earning him the honour of the coveted yellow jersey. On Wednesday, the team went for broke in arguably the race’s most prestigious stage this year, up to the ski resort of Alpe D’Huez. Attacking on the first of its famous 21 hair pins, Spaniard Carlos Sastre not only rode to a stage victory but also into the yellow jersey after a supreme example of team work. He was largely aided by previous race leader Schleck.

It remains to be seen if Sastre can hold on to his lead until the Tour’s finish in Paris this Sunday. Many pundits feel that his lead is not sufficient to do so, but whatever happens, the team’s exploits have secured huge global press coverage for Saxo.

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