Trading
Non-US airlines profit from low-flying dollar
NEW YORK – The weak dollar is giving airlines outside the US some relief from the impact of high fuel costs, according to their latest financial results.
Banks review yuan reval forecasts
BEIJING – Some bank analysts have brought forward their expectations of regime change in the Chinese yuan, following the rate hike by the People's Bank of China late last month.
The American-style participating forward
Clients wishing to trade at a pre-specified strike rate during a certain window period, should consider the American-style participating forward, say Bank of America options specialists Jim Kamphoefner in San Francisco and Ravi Chopra in Singapore
FX – the odd man out
The currency market is decoupling from other markets. This is not sustainable, says David Woo, head of FX strategy at Barclays Capital in London
Spotlight on Japan's yen policy
With the focus on the US, little attention has been paid to Japan. Jake Moore, FX analyst at Barclays Capital in London, examines the MoF's likely actions now the US election is over
Window barrier for a Canadian manufacturer
Canadian manufacturers are looking for innovative hedging ideas in an increasingly bleak exporting environment. Richard Stang, an FX sales dealer at TD Bank Financial Group in Toronto, suggests one potential solution
Investors invited to scale up overlay in Asia
HONG KONG – Investors in Asia could scale up the returns they are currently getting from FX overlay by investing in hedge funds, delegates at the ABN Amro Asia currency conference heard last week.
Bush win prompts dollar sell-off
NEW YORK – The re-election of President George W. Bush last week prompted a dollar sell-off, sending the euro to an all-time high just below 1.30 by close of trading on Friday (November 5).
Saxo and ANZ pick dollar lows
The dollar sank to record lows last week – nearly touching its all-time low just above 1.29 against the euro on Friday (November 5) and an eight-year low of 1.1877 against the Swiss franc the day before.
New retail laws spark alarm in Japan
TOKYO – A debate is raging in Tokyo over the impact new retail FX trading laws will have on the developing market.
The US election effect
How will the US election affect the FX markets? Alan Ruskin, New York-based research director, 4Cast, reveals the results of his company's recent survey
China rate hikes boost FX volatility
CHINA – Volatility in global FX has surged amid speculation that the first rate hike by the People's Bank of China (PBOC) in almost a decade could spark a sooner-than-expected yuan revaluation, according to analysts.
ABN Amro revises forecasts
ABN Amro is among the banks revising currency forecasts in response to an increasingly bearish outlook for the dollar.
Funds repatriation bill set to pass
NEW YORK – A bill offering US companies the chance to repatriate overseas earnings at a hugely discounted tax rate is set to be signed into law in the next week – much sooner than previous estimates, said analysts.
Dollar bears' hopes realised
The dollar bears on the FX Week Currency Forecasts Index saw their wishes fulfilled last week, as euro/dollar finally broke through the upper limit of 1.26 denied it since mid-February. But the euro's rise caught some forecasters off-guard, as they had…
GFI adds three for Fenics FX
LONDON – Inter-dealer broker and market data firm GFI Group has hired three new staff for its Fenics FX options pricing system in London and Singapore. The hires will help the firm meet increasingly sophisticated demands on the system from bank clients,…
Prime brokerage best for individual investors
Individuals who want to trade FX may find a prime broker will promote confidentiality, cut out settlement difficulties and help resolve credit issues, says Peter Wakefield, MD of research and product development at Record Currency Management in the UK
Canadians join State Street's e-commerce settlement service
BOSTON – State Street Global Markets signed up the big five Canadian banks to its settlement and confirmation matching tool for FX last week.
Rupee trading set to double, say local traders
MUMBAI – Daily trading volume in the Indian rupee could double by the end of the year to $300 billion. Despite the potentially negative impact of the current high price of oil – India being a net crude oil importer – local market participants are…
US dollar's central role
The dollar is likely to have a large role to play in the adjustment of the US economy, whether it is suited to it or not, writes Alan Ruskin, research director at New York-based analysis firm 4Cast
Shock job losses at Tullett
Tullett Liberty's forwards desk loses as merger with Prebon completes LONDON – Tullett Liberty has suffered a surprise defeat in the integration of its forex business with that of rival Prebon Yamane. Broking sources in London say Tullett's FX forwards…
Q3 hits earnings but Q4 sees pick-up
NEW YORK – All major US commercial banks have now reported their third-quarter results, confirming poor trading conditions have hit returns for FX.
Chinese currency to rise by 25% against dollar
LONDON – China's currency is up to one quarter below its true value and a significant adjustment on the forex market is inevitable.
Reuters to build Chinese FX platform
SHANGHAI – The China Foreign Exchange Trade System (CFETS), a subsidiary of the People's Bank of China, has signed up Reuters to develop a global foreign exchange trading system for it and its member banks.