Regulation
Blix report boosts dollar
NEW YORK -- The US dollar rallied slightly in the wake of United Nations chief weapons inspector Hans Blix’s report on Iraq late last Friday.
Combined sales teams take off
LONDON -- The FX sales dealer may soon be a thing of the past if a new trend for cross-product sales teams catches on.
BoA HK focuses on debt capital raising
HONG KONG -- Bank of America has hired Abidin Siregar in a newly created role as head of global markets, Hong Kong. He will cover sales, trading and research, and build the bank’s debt capital raising business across the region.
Analysts mull Iraq FX fallout
LONDON -- With geopolitical tensions continuing to dominate FX markets, analysts are now looking beyond any potential conflict at the possible fallout and its impact on currencies.
Heavyweights tackle rising un-named counterparty risk
NEW YORK -- Top FX banks are joining forces with central banks and industry groups to eliminate un-named counterparty risk.
BoA HK focuses on debt capital raising
HONG KONG -- Bank of America has hired Abidin Siregar in a newly created role as head of global markets, Hong Kong. He will cover sales, trading and research, and build the bank’s debt capital raising business across the region.
Intervention risk looms
LONDON -- As the US prepares to invade Iraq, FX dealers could soon be facing their own battle against central banks.
New US laws could hit retail market
NEW YORK -- New laws being drawn up by US regulators could hit volumes in the US retail FX market, officials said last week.
Hungary: when the funds go marching in
The Hungarian forint’s peg should be scrapped before another speculative attack on the currency, say Marios Maratheftis and David Mann, economists at Standard Chartered Bank in London
Busy year ahead for FX committees
LONDON -- The forex committees of the eurozone, US and UK’s central banks will have a full agenda this year, senior officials told FX Week .
Dollar routed again as war looms
NEW YORK -- The dollar was roundly routed last week as tensions between the US and Iraq were ratcheted up a notch.
Dealers prepare for worst from gloomy bonus season
LONDON/NEW YORK -- Bonus payments in FX for 2002 could be slashed by half following a difficult year in forex, traders and recruiters told FX Week .
Gain Capital refutes fraud accusation
NEW JERSEY -- Online retail FX player Gain Capital last week responded to claims that it acted fraudulently after a lawsuit was filed by a group of clients of Sterling Forex, a money management firm.
May - ACI Congress spots euro rise
ACI Congress spots euro rise
February - Rogue trading hits the headlines – again
Rogue trading hits the headlines -- again
Global tensions force euro higher
LONDON -- The euro hit a three-year high against the dollar late last week on heightening risk aversion among investors as global political tensions mounted.
New Europe to bring more forex trading opportunities
FRANKFURT -- The expansion of the European Union and subsequently the eurozone will bring new markets for generating forex profits, senior officials told FX Week.
Asian swap network nears completion
SINGAPORE -- An Asian initiative to cut the impact of speculative currency trading attacks in the region is nearing completion.
All talk no action
The current round of yen weakening differs from previous incarnations, says Koji Fukaya, senior forex strategist at Bank of Tokyo-Mitsubishi in Tokyo. A drop to 135 is not expected this time
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