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Western Union joins forces with Travelex

LONDON – Western Union, the worldwide money transfer service, and Travelex, the world's largest non-bank foreign exchange payment firm, have signed an exclusive agreement whereby the latter offers Western Union's transfer service.

Commerz continues to rebuild

FRANKFURT & LONDON – Commerzbank has boosted its FX team with four new hires in London and Frankfurt, as it continues to rebuild after cutbacks in late 2004.

BOA falls in FX

NEW YORK – Bank of America (BoA) posted a fall-off in FX trading-related revenue for 2005 versus the previous year in its annual results released last week.

Fundamentals star in December

With hedge funds becoming increasingly interested in foreign exchange as a source of alpha, FX Week in conjunction with SEB and Mellon has collated data indicating how 35 leading hedge funds have fared over the last year and a half

And now, the weather, from CoesFX

PLAINVIEW, NEW YORK – New York portal CoesFX last week launched a tool to predict foreign exchange rates using a 'weather forecasting' format to enable users to factor in more variables.

Integral Development boosts staff

MOUNTAIN VIEW, CALIFORNIA – Integral Development, provider of capital markets products and services, has hired five staff in business development, finance, research and marketing.

BGC adds institutional FX

LONDON – BGC, the voice and electronic broking business of Cantor Fitzgerald, has confirmed the creation of an institutional FX trading desk.

London behind on gender equality

LONDON – The paucity of women forex professionals in London is likely to persist as its reputation as a male-dominated arena continues, according to market observers.

Commodities hit JPMC and Citi

NEW YORK – Poor performance in the commodities markets caused JP Morgan Chase and Citigroup to report a decline in revenues generated from their fixed-income divisions in the fourth quarter of 2005, clouding positive results for FX.

Korea to restrict currency data

SEOUL – The Bank of Korea (BoK) is set to restrict parties that are able to view real-time currency data, in a bid to curb currency speculation, from next month.

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