Articles by Farah Khalique
Jefferies hires Chris Eagle to head institutional FX sales
Marex Spectron's former global head of FX joined Jefferies in London yesterday to head institutional FX sales in Europe
Political crisis in Europe brings volatility back to FX options
Volatility returned to eurodollar last week as FX traders priced further downside risk into euro options
Japanese corporates count costs of further yen strength
Japanese companies have been hit hard by the strength of the yen and are now revising down their profit forecasts in anticipation of further appreciation
European banks report tough Q3 in Ficc
Q3 results at Barclays Capital, Credit Suisse and BNP Paribas suggest a difficult third quarter in Ficc, offset by strong FX performance
Dow Jones pitches news-based algo trading to FX traders
News providers including Dow Jones and Thomson Reuters report widespread interest in news feeds that scan keywords in news stories to forge trading strategies, but some remain sceptical about whether they can genuinely add value for traders. Farah…
Yen expected to remain weak as long as Greek package is implemented
Foreign exchange strategists and traders have judged this week's Japanese intervention a success in weakening the yen, and believe USD/JPY should remain higher as long as the eurozone crisis doesn’t spiral out of control and spark a flight back to the…
Head of spot FX trading leaves Lloyds
Kelvin Jouhar, head of spot trading, and Hetal Patel, senior G-10 trader, leave the bank after their roles are made redundant
Corporates fall on tough times
The recent volatility in foreign exchange markets has caused uncertainty for corporate treasurers and led to some changes in their strategies. How are banks helping corporates to tackle the current challenges and the increased costs that will result from…
Eurozone deal brings relief in FX spot and options
Risk sentiment appeared to make a comeback in FX markets yesterday as options volatility fell from record highs and the euro rallied in response to the deal announced after the Euro Summit in Brussels
Record FX profits driven by volatility and hedging, say Deutsche and UBS
A perfect storm of volatile currency moves, intervention from the SNB and frenetic hedging activity have contributed to unusually high FX revenues and volumes in the third quarter, say Deutsche Bank and UBS
EUR/CHF options market springs into life
Traders report sustained levels of activity in the five-year EUR/CHF options market as hedgers protect against long-dated downside risk
Pace of renminbi appreciation will slow, says Deutsche
Jens Scharff-Hansen, co-head of FX and short rates trading for Asia at Deutsche Bank, talks to Farah Khalique about the growth of offshore renminbi trading, recent dislocations in the onshore and offshore markets and how corporates can take advantage
The renminbi's road to success
The renminbi is on the up, but is it climbing fast enough? Farah Khalique talks to currency strategists and a global head of FX structuring about the performance of the currency and future trends
Clearing of Chilean NDFs hampered by netting uncertainty
The Central Bank of Chile has the authority to stop financial institutions netting down their transactions, which participants fear might prevent central counterparties from being able to clear contracts denominated in the Chilean peso
G-10 troubles fuel sell-off in EM currencies
Declining risk appetite and a flight to quality have driven a sell-off in some emerging market currencies and pushed up the cost of hedging, say participants
Eurozone crisis boosts September spot volumes
Falling confidence in the eurozone and the flight to and from commodities-based currencies has resulted in record volumes, platforms report
The Canadian dollar: to hedge or not to hedge?
The Canadian dollar weakened significantly against the greenback in the last two weeks of September, moving from parity on September 21 to 1.0461 on September 30. Farah Khalique talks to currency strategists about what’s driving the Canadian dollar’s…
LCH.Clearnet eyes November launch for NDF clearing
London-based CCP is set to launch clearing for NDFs in six currencies in mid-November, having shelved plans for options clearing while banks discuss settlement-related issues with regulators
Demand for euro puts surges as crisis deepens
Investors and speculators pile into euro put strategies as eurodollar spirals and further depreciation is predicted
Spotlight on: Jon Hitchon, Deutsche Bank
The newly promoted head of Deutsche Bank Markets Clearing talks to Farah Khalique about the bank’s cross-asset clearing business and how it will compete with the derivatives clearing offerings of other top-tier banks
Prepare for further black swan events in FX, corporates urged
Corporate treasurers should make sure their forex counterparties are properly prepared for the possibility of further black swan events in the FX markets, senior Lloyds banker tells ACT conference delegates in Manchester
Central banks take aim at dollar-funding shortage
Co-ordinated action from five central banks eases the pressure on dollar funding for European banks, but EUR/USD cross-currency basis swap market remains under stress
Long Swiss franc players hit by SNB move
Sudden depreciation of the Swiss franc, following an SNB announcement last Tuesday that it would buy unlimited amounts of foreign currency, has left some participants nursing hefty losses.
A view from the buy side: Calpers
Volatile markets have posed challenges for participants in the FX market across the globe. Eric Busay, portfolio manager at Calpers, talks about the Swiss franc, US dollar and regulatory change. By Farah Khalique