FX Markets - Vol 14 No 31
Articles in this issue
Intervention in Japan likely to continue
TOKYO -- Despite mounting pressure on Japan to stop intervening in the currency markets, the country is unlikely to do so, said analysts last week.
FXCM opens London office
LONDON -- New York-based retail FX trading platform Forex Capital Markets (FXCM) launched a UK office in London on July 8, a senior official at the firm in New York told FX Week .
WestLB hires ex-BoA chief
NEW YORK -- German bank WestLB has hired ex-Bank of America trading head Richard Breslow for the newly created position of FX sales and trading head for North America.
Asia tech hurdle for FX portals
HONG KONG -- Overcoming technological problems has been one of the main challenges facing online multi-bank FX platforms in Asia-Pacific, according to officials at the major portals in the region.
Dollar decline likely to be over for now
Strong US data and stock market resilience point to a halt in the dollar’s decline, says Jesper Dannesboe, chief FX strategist at Dresdner Kleinwort Wasserstein in London
Baht appreciation to slow on central bank reforms
BANGKOK -- The decision by the Bank of Thailand (BOT) in late July to loosen FX restrictions should slow the Thai baht’s appreciation, say local market participants. But strong economic fundamentals in Thailand mean that appreciation is unlikely to…
PaR signals return of FX risk specialists
LONDON -- Growing interest from hedge funds in banks’ FX services have been a marked feature of the markets in the past 18 months. But that relationship can work both ways, reports one new currency fund, which has seen a wave of interest from banks…
Deutsche says FX strong in H1
FRANKFURT -- Deutsche Bank last week said it had "very strong" FX trading results for the first six months of the year, reflecting the bank’s overall interim results. Jim Turley, global head of foreign exchange at Deutsche Bank in London said: "Client…
Hotspot’s Ogg on the move
NEW YORK -- Hotspot founder and former chief executive David Ogg has left the New Jersey-based online foreign exchange trading company to join equities technology firm Lava Trading in New York.
Lehman Brothers continues forex hiring drive in London
LONDON -- Lehman Brothers has hired nine forex staff in London in the past three months as part of its continued FX build-up. Two more -- including global head of FX Grant Whiteside -- have transferred to the City from New York, as the bank pursues a …
Currency funds fall in June
STAMFORD, CT -- Fewer than half of currency managers achieved positive returns for June, according to Parker Global Strategies’ FX Index, which was down 0.92% for the month.
Resetting forward solution for Korean exporters
Gail Sheridan, financial engineer at UBS in Singapore, offers a hedging solution for Korean companies looking to guard their US dollar revenues against the possibility of a strengthening won
ABN Amro names FX strategists
LONDON -- ABN Amro last week named the two remaining hires to the expanded forex strategy team it announced two weeks ago ( FX Week , July 14).
Banks win a partial reprieve from IAS 39
BRUSSELS -- The International Accounting Standards Board (IASB) has approved an amendment to rules for macro hedging under the upcoming IAS 39 accounting standard for European banks.
PaR signals return of FX risk specialists
LONDON -- Growing interest from hedge funds in banks’ FX services have been a marked feature of the markets in the past 18 months. But that relationship can work both ways, reports one new currency fund, which has seen a wave of interest from banks…
Amex Bank results jump
American Express Bank last week reported year-on-year growth of 30% in revenues from FX trading for the first half of 2003.
CLS to include Korean won
NEW YORK -- CLS Bank, which operates the continuous-linked settlement service for FX, will today announce its plans to include the Korean won as a CLS-eligible currency.
