Trading
Will sterling lead the USD?
Hans Redeker, global head of FX strategy at BNP Paribas in London, says recent strength in the dollar is likely to be short-lived
SuperD launches reval product
NEW YORK – Pricing systems vendor SuperDerivatives has expanded its suite of services with the launch of a revaluation service.
No need to shift the Hong Kong dollar peg
Tai Hui (right), economist at Standard Chartered in Hong Kong, presents four reasons why the Hong Kong authorities should not change the HK dollar’s peg to the greenback
No soft patch for the dollar
Bank of Montreal (BMo) tops the three-month ranking with a view that the US economy would not go through the soft patch some of the other banks were predicting.
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
Chinese whispers cause confusion
BEIJING – Currency markets were thrown into disarray last Wednesday following an inaccurate news report by a Communist-party-backed news agency claiming China would allow the yuan to appreciate.
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
Dollar hits European banks
ZURICH – The dollar’s correction at the beginning of the year hit European banks, which posted a mixed bag of results in forex last week.
Bullish dollar view wins out
Informa Global Markets and HBOS top the three-month and one-month tables, respectively, by sticking with a bullish view on the dollar.
Currency strategies down
LONDON – Currency strategies faced a tough month in April, continuing the trend seen in recent months.
Hotspot using TradeSTP
LONDON – Hotspot FXi, the multi-bank FX market operator, is set to use data distribution products vendor LogicScope Realisations’ TradeSTP deal notification software, say sources.
Size matters, finds Greenwich survey
GREENWICH, CT – The ability to execute large currency trades is one of the key components in winning new FX business from corporates and institutional clients, according to latest research from Greenwich Associates.
More flexibility needed over renminbi rationale
Can USD/RMB rise? Asks Bhanu Baweja, FX strategist at UBS in Singapore
Profiting from a renminbi revaluation
Adam Cole, senior currency strategist at Royal Bank of Canada in London, looks for options strategies to play a China revaluation within a G-10 FX portfolio
COESfx adds real-time FX data
PLAINVIEW, NEW YORK – Electronic currency network (ECN) COESfx has launched a new service, providing real-time streaming forex data directly to currency traders’ desktops.
Misys launches aggregation service
LONDON – Misys Banking Systems (Misys) has launched the Misys Treasury Exposure Aggregation Service (MTEAS), adding more features to its foreign exchange offering.
All change for CLS management
LONDON and NEW YORK – CLS has announced a shake-up of its senior management and the forthcoming departure of chief executive Joseph De Feo.
No election fears for GBP
The most recent UK election update shows sterling political risks diminishing further, says Adam Cole, senior currency strategist at Royal Bank of Canada in London
Selling £/$ at favourable rates to the forward
UBS Currency Management Advisory Service suggests using a ratio callable forward to sell GBP/USD at more favourable rates than the prevailing market forward rates
French referendum ups volatility
PARIS – The French referendum on the European Union (EU) constitution, set for May 29, has already affected euro trading, and continuing uncertainty will lead to further volatility.
Yen to take over as main driver
Australia and New Zealand Bank’s (ANZ) loyalty towards continued dollar strength has paid off, as it tops this week’s one-month ranking.
Divergent views on greenback
Pronet Analytics is maintaining its aggressive 12-month view on the dollar because it believes its recent recovery will end soon, said Karen Griffith, chief currency strategist in London.