FX Markets - Mar 2026
See below for a full listing of the articles in the March 2026 collection of FX Markets
Articles in this issue
Can AI be the great equaliser in e-FX?
FX market-makers see real benefits for agentic AI in code generation and data analysis
Iran conflict forces EM carry trade unwinds
Surging oil prices, rising vol and dollar flight triggered stop-outs of emerging market positions, say dealers
Short dollar bets make cautious return after safe-haven rush
Cautious USD-weakening positions re-emerge despite return of natural ‘dollar smile’ hedge
ForexClear stress losses surge as member concentration rises
Top five member share of IM jumps 9pp as stress losses hit six-year high
Citi tops 2025 FX trading revenues on hedging surge
US dealer posts 50% increase as Liberation Day turbocharged client activity
Asian central banks monitoring FX volatility amid oil shocks
Indonesia, Singapore and India look to manage inflationary pressures from war in Middle East
PBoC reserve ratio cut spurs short-term FX hedging
Removal of 20% forex risk rule drives exporters toward options and onshore forwards
JP Morgan’s former head of FXO trading leaves Balyasny
Ankur Dhingra spent almost three years as a macro portfolio manager at the multi-strat hedge fund
Morgan Stanley makes cuts to real money FX coverage
Departures from London-based team came as bank was reportedly shedding 2,500 jobs
Offshore speed, onshore depth: a new reality for FX liquidity
Stark differences emerge between onshore and offshore pricing during macroeconomic news events, finds LMAX Group’s head of data
New LLMs are proving to be surprisingly good quants
Strides in AI’s ability to do maths mean models can plausibly help with research
From pink tickets to Python: Toby Baker on 40 years in FX
T Rowe Price’s departing FX head reflects on the pain points and keys to success for a modern buy-side trading desk
Wheels in motion: AB fully automates forex trade execution
US fund manager claims to save time and money with hands-free trading
YCC, carry trades and the changing role of the yen
Marcello Minenna argues that as the BoJ adjusts its policy regime, changes in carry positioning are increasing the instability of the correlation between exchange rates and yield differentials
Franklin Templeton closes $5bn yen options book
Asset manager’s bets on USD/JPY soured as yen weakened through Q4
Pimco slashes short dollar forwards at year-end
Counterparty Radar: EUR/USD cuts drive $86.5 billion reduction
