Currency
BNP Paribas outlines path for FICC algos, SDP and AI projects
After taking on new Cortex and AI roles, BNPP's Razaq sets out the bank's expansion plans and new tech projects
Stablecoin consortia may be ‘interim’ step to solo bank issuance
Former Citi payments head and Ubyx founder says all G-Sibs will issue their own coins
Nomura weighs launching own stablecoin
Bank says issuing its own token is on the table, but wants to use stablecoins as a customer first
Dollar smiles again, but for how long?
Twitchy investors backed the buck during Iran war, but experts are divided on whether this marks a return of the dollar smile
Korea’s leveraged ETF expansion aims to stem overseas outflows
Retail flows to US and Hong Kong listings may have exacerbated FX fragility
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and renminbi unlikely to supplant greenback, but “more multipolar” system could arise
The dollar do-si-do: hedgers review FX moves
Brief return of US dollar to safe-haven status amid Iran upheaval prompts real money investors to pause hedging activity
All that glisters: precious metal volumes surge on FX venues
Gold and silver liquidity on foreign exchange trading platforms improves as more dealers link precious metals with e-FX
Compression eases capital, risk bottlenecks amid CNH swap boom
Dealers say multilateral compression for yuan cross-currency swaps can increase trading capacity
PBoC’s language suggests policy shift on yuan – China economist
Central bank drops “cautious” from pronouncements on currency’s internationalisation
Fed official dismisses de-dollarisation talk
Speakers at IIF conference believe dollar selloff is cyclical rather than a structural decline
HKD trading surge highlights pegged currency challenges
Pricing options on currencies with a peg requires a “different mindset”, say traders
Political turmoil rattles Turkish lira carry trade
Echoes of March crackdown that sparked market rout leave traders on alert
How Amundi’s options strategy profited from dollar slump
French asset manager grabbed euro call options at low prices in a tactical pivot for its FX absolute return fund
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
Why Iran tensions failed to rattle markets
Despite initial fears, traders say risks were signposted and investors had deleveraged after April
Hong Kong intervenes once again to protect currency peg
Intervention is HKMA’s second at weak end of HKD/USD band in less than a week, with more likely
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
Macro traders tread carefully ahead of tariff pause deadline
Uncertainty has held buy-siders back from both hedging and directional trades
Hedge funds return to HKD carry trade after May stop-outs
Widened interest rate differentials spur investors to re-enter positions, but risks remain
Why asset owners aren’t turning their backs on America (yet)
Pension and sovereign wealth investors see US exceptionalism outlasting policy-driven turmoil