Regulation
Greenback recovery continues apace
The US dollar has brushed aside negative sentiment but this week’s data releases will be pivotal for the currency, says Shahab Jalinoos, currency strategist at UBS Warburg
Investment banks cut FX
NEW YORK -- Lehman Brothers and JP Morgan Chase have cut FX jobs, senior officials told FX Week. The cuts are the first sign that forex may suffer as a result of the year’s depressed investment-banking activity -- so far the product has benefited from…
North Korea shuns dollar, welcomes euro
PYONGYANG -- North Korea is to ban the use of US dollars from the start of December in retaliation for the US decision to freeze oil exports to the communist nation.
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
Rate cut turns market anti-dollar
NEW YORK -- The US dollar hit three-month lows against several major currencies last week, triggering a welcome return of volatility to the markets after months of range trading.
BIS: e-FX may impact liquidity, volatility
BASLE -- Market participants fear the rise of electronic trading may adversely impact liquidity and volatility in the FX markets, according to the Bank for International Settlements (BIS).
EU enlargement may increase euro liquidity
FRANKFURT -- Enlargement of the European Union and adoption of the euro by EU ascension countries could see deeper, more liquid trading of the euro.
Market mulls options benchmark
LONDON -- Standard FX options benchmark prices could be the answer to inaccuracies in marking exposures to market, but whether the move is possible is a matter for debate, according to senior options market participants.
Citigroup defies downturn
Top player’s revenues up again as gap widens between the best and the rest
China FX emergence continues
BEIJING -- The liberalisation and development of China’s FX market is continuing, presenting banks with a potentially lucrative new market.
AIB continues Rusnak counterparties enquiry
DUBLIN -- Allied Irish Banks (AIB) played down reports in the UK press last week that it is preparing a legal case against Citigroup over FX rogue trader John Rusnak.
Options business booming
Growing client sophistication prompts banks to expand in derivatives