Opinion
The final frontier
Win Thin, senior currency strategist at Brown Brothers Harriman & Co in New York, evaluates the investment prospects for the frontier markets
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
Holiday Break
FX Week is taking a break over the holidays and will next be published on January 7, 2008. We wish all our readers a very happy Christmas and a prosperous new year.
G-10 currencies face a grim 2008
John Hydeskov , senior FX analyst at Danske Markets in Copenhagen, predicts the road ahead for G-10 currencies in light of an ongoing financial crisis
Pegging hopes on GCC currency reform
Marios Maratheftis, Dubai-based regional head of research for Middle East, North Africa and Pakistan at Standard Chartered, calls for currency reform by the GCC
Safety in numbers
Global FX strategists Niels From and Sebastien Galy at Dresdner Kleinwort in Frankfurt and London illustrate the perils of strategy diversification with a strategy based on current account extremes
Woe is USD
The US financial crisis needs to deepen to realise a structural super-bearish USD view, says Mike Gallagher, director of research at IDEAglobal in London
How to prepare for reduced volatility
In the aftermath of credit-related market turmoil, Neil Mellor, currency strategist at The Bank of New York Mellon in London, suggests a way to prepare for a return to more historically typical levels of volatility
Time for a new market structure
The irony of the FX markets is that calls for post-trade efficiencies today are rooted in the overall efficiencies seen to date. But the fact is that the market is reaching a critical turning point.
Central banks: the gorillas of FX
Chris Turner, head of FX strategy research at ING wholesale banking in London, evaluates the possibility of FX sterilisation by central banks next year
G-10 carry trades survive the crunch
Perhaps the biggest conviction Lehman held during this summer’s credit market shock was that the unfolding events would drastically alter the foreign exchange market. Most notably, we thought the carry-centric world that had dominated in recent years…
All eyes on Asia
Divyang Shah, chief strategist at the Commonwealth Bank of Australia in London, says Asian equities and commodity markets hold clues on the AUD/USD parity debate
The value of a fall
The dollar might be in serious trouble, but its fall could also be its salvation, according to David Bloom and Paul Mackel of HSBC's FX strategy team in London
Will intervention work?
European Central Bank intervention could spark a battle with the foreign exchange market, says Mitul Kotecha, head of global foreign exchange research at Calyon in London
Talk of revaluation
The independent monetary stance recently taken by many Middle East states is likely to add to speculation about a revaluation, according to Chris Turner, head of FX strategy research at ING wholesale banking in London
Forex settlement risk: banks look beyond CLS
Rick Schumacher, director of products at Wall Street Systems in New York, evaluates the foreign exchange market's alternatives to CLS
The true cost of pre-settlement netting
As the industry comes to terms with the fact that banks have begun pre-settlement netting, conversation is moving to the implications this has for the smaller of the 57 CLS member banks.
Is the dollar dross?
Pete Luxton, global markets adviser, and Shant Movsesian, FX options manager, at Informa Global Markets in London, seek ways to benefit from the flagging US dollar
Norwegian krone joins the high-yield club
Ian Stannard, senior currency strategist at BNP Paribas in London, surveys the NOK's earning potential
Timing the USD decline
A 50 basis point Fed cut has confirmed that USD cyclical support is fading rapidly, according to Niels From, global FX strategist at Dresdner Kleinwort in Frankfurt
CLS must evolve, or face competition
As CLS enters its sixth year of operations, the global settlement system continues to be at the centre of much debate. Although the fallout from the credit crisis has underscored the benefits of a system that ensures all legs of a transaction are settled…
G-10 foreign exchange is no longer unbreakable
The G-10 trading environment remains fragile at best, and the growing dislocation between equity and credit markets is becoming more worrisome, according to David Mozina at Lehman Brothers in New York
Retail forex traders will bounce back
Retail foreign exchange traders were among the hardest hit in the August turmoil, where risk aversion led to a sharp reversal in carry trades. But it looks like many market participants haven't been deterred from pursuing the potentially lucrative…