United States dollar
Dollar reversal could scupper EM carry boom, dealers warn
Surprise rate hike or a USD rally may force unwinds in popular emerging markets carry trades
Yen options dealers struggle to hedge intervention risk
Hedge funds’ bets on BoJ intervention are leaving dealers with vol-surface exposures they can’t hedge cheaply
Traders revive emerging market carry trades on vol drop
Investors turn back to high-yield Latin America currencies as implied volatility falls
FX options traders lost in Iran fog
Headline ‘ping-pong’ saps hedge funds’ conviction, though pockets of vol selling have re-emerged
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
Indian banks in race against clock to unwind USD/INR trades
An estimated $7 billion of open arbitrage trades are set to be unwound by April 10
Has the Iran conflict made FX untradable?
FX options volumes jump despite high costs and short-lived opportunities
Wild dollar swing upended FX options hedges
Banks chased vol higher as last week’s EUR/USD surge knocked out barrier trades
LatAm FX carry trade shrugs off geopolitical fears
Clients in regional carry positions remain undeterred by US interventions, say dealers
US mutual funds slash short euro positions at record pace
Counterparty Radar: Pimco cut $4.6bn of EUR/USD puts in Q3 amid changing stance on dollar direction
Review of 2025: A topsy-turvy ride
Rollercoaster year for FX traders ends with G10 volatility and hedging flows back where they started
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
Banks scale back short-dated FX swaps trading, BIS finds
Interbank FX swaps hit by higher short-term hedging and funding costs, while longer-dated forwards activity jumps
BofA, Reactive Markets pick up Risk.net awards
US bank wins FX house for performance during Liberation Day, while Reactive Markets takes OTC trading platform prize
Inside Safran’s $54bn FX options book
French aircraft parts supplier emerges as key exotics player
Pimco piled into euro put options in Q2
Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion
European exporters add flexibility to FX hedges
Corporates with USD exposures have been reducing hedging tenors and adding optionality
Hedge funds keep a toe in HKD carry trade despite rate rise
Positioning is currently a fifth of what it was in April, say dealers
As Fed meets, hedge funds buy ‘lottery’ FX options trades
Options bets reflect cautious pessimism over the dollar ahead of Jackson Hole conference
Investors hope US rate cuts will lower FX hedging costs
European investors in US assets set to boost hedge ratios as implied yields rise
Why asset owners aren’t turning their backs on America (yet)
Pension and sovereign wealth investors see US exceptionalism outlasting policy-driven turmoil