Volatility
Dealer views mixed over future of profitable EM FX carry trade
Emerging market FX carry trades have generated 7.5% returns since April, but dealers question longevity
Real money looks to dynamic hedges after tariff bout
FX Markets Europe: Buy-siders are adopting more responsive FX hedging strategies after correlations broke down
Institutional investors take profit on gold trades
Hedge funds trimmed longs after gold rally and triggered massive market selloff
Do BIS volumes soar past the trend?
FX market ADV has surged to $9.6 trillion in the latest triennial survey, but are these figures representative?
Low-vol gold rush points to further upside
Options markets see no scramble to chase metal higher despite 43% year-to-date rally
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
How FX traders searched for the light amid tariff turmoil
Traders found consistent and actionable pricing in lit FX spot and futures order books during volatility rollercoaster in Q2, finds CME
Japan election result sours hedge funds’ yen options bets
Dealers saw flows in significant size for JPY weakness but were forced to take profits
From fringe to forecast: why bitcoin now moves like a currency
LMAX data finds crypto prices react to macro market events as quickly as EUR/USD
Mutual funds were USD bulls going into April’s tariff chaos
Counterparty Radar: Positioning in Q1 reflected market sentiment that tariffs would lead to a dollar rally
Will Taiwan lifers ramp up FX hedging amid tariff convulsions?
As TWD remains strong against the US dollar, Taiwanese life insurers are still poised to act
Hedge funds return to HKD carry trade after May stop-outs
Widened interest rate differentials spur investors to re-enter positions, but risks remain
Limited-loss hedges help US firms dodge costly FX moves
Structurers say US corporates’ use of options-based net investment hedging helped soften impact of USD selloff
Best Asia FX spot house: UBS
Thanks to its significant investments to boost spot liquidity in Apac, UBS was able to continue quoting competitive prices throughout bouts of extreme volatility in the latter part of 2024 and first quarter of 2025
DC hedges return amid tariff pause
Following a sharp drop in public deal flow in April, dealers say interest has come roaring back
Disclosed trading an oasis in the FX liquidity ‘mirage’
LPs say growth of relationship-based trading bolstered market during April volatility
The go-to FX bank in Apac: HSBC
Leveraging its footprint to broaden its FX offering, HSBC provides clients with solutions to meet trading and hedging needs
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders
Tariff volatility pushes banks to tighten close-outs
Lawyers say dealers are looking to update playbooks for terminating derivatives trades
Trump tariffs sent FX options traders on a wild ride
As US assets sold off, dealers found themselves on the front lines of a hedging scramble