Trading
Is yen decoupling from oil?
The yen's gains against the greenback last week suggest an apparent decoupling from oil says Neil Mellor, currency strategist at Bank of New York in London
Hedging when the market moves against you
A nine month sliding forward structure can help your company achieve attractive FX hedging rates when the market has moved substantially beyond your budget rates, says Adam Gilmour, head of FX options sales in Citigroup's emerging markets sales and…
Return of the voice broker
Cantor Fitzgerald revives voice broking market with spin-off firm. NEW YORK - Cantor Fitzgerald reversed a trend of consolidation in the broking market last week by spinning off a new firm to focus exclusively on voice broking.
CSFB gets OK for derivatives in China
HONG KONG – The China Banking Regulatory Commission (CBRC) authorised Credit Suisse First Boston (CSFB) to launch a financial derivatives business in China last week.
Rate differentials bolster peso trading
MEXICO CITY – Speculation on the direction of US interest rates is bolstering already high levels of trading in US dollar/Mexican peso.
Yen accuracy slips in static month
Forecasting moves in the yen pairs has caused trouble for contributors to the FX Week Currency Forecasts Index over the past month.
Euro/sterling kicks off
The summer football transfer season is providing unexpected support for euro/sterling, writes Pete Luxton, global markets adviser at Informa Global Markets in London
Oil price hits Asian currencies
HONG KONG – Surging oil prices have put pressure on Asian currencies, but the impact has been magnified by other factors influencing the region, according to analysts.
Russian peg change to drive rouble trading
MOSCOW – A touted move from a dollar peg to a dollar-euro basket will be the key driver for trading in the rouble in coming months.
Toyota reports ¥70bn FX impact
TOKYO – Japanese car manufacturer Toyota Motor Corporation last week announced a ¥70 billion ($645 million) hit from exchange rate changes affecting its first quarter operating income.
Forward structure for an exotics-shy corporate
High price volatility is making EUR/AUD exposure challenging to manage. Sara Sullivan, ANZ’s senior FX options sales manager in London, proposes a solution for a European multinational that receives payments from an Australian subsidiary
HSBC’s profits up by a third
LONDON – HSBC’s FX profits so far this year are up by more than a third compared with last year, with a massive $902 million earned from FX dealing in the first half.
Currency transfers for multiple entities
Straight-through processing FX for intra-company transfers used to be impossible. Royal Bank of Scotland’s Stamos Fokianos explains how this can now be done via RBS FiX
HK$ intervention set to continue
HONG KONG – The Hong Kong Monetary Authority (HKMA) looks set to continue its intervention to support the Hong Kong dollar over coming weeks, analysts say.
Sri Lanka rupee set to fall further
Domestic pressures and the rising oil price are likely to lead to further devaluation of the Sri Lankan rupee, say David Mann, senior international economist and Gill James, chief economist for the Middle East and South Asia at Standard Chartered in…
Sharp moves hit 3m forecasts
The past three months have been one of the most difficult for forecasting quarterly currency moves since the FX Week Currency Forecasts Index launched at the start of this year.
Bloomberg and Cognotec partner on streaming rates
LONDON – Bloomberg is bringing streaming FX rates to users of its Bloomberg Professional terminals, courtesy of a joint venture with FX vendor Cognotec, the two firms will announce today (August 2).
Overcharging costs eclipse AIB’s H1 dealing profits
DUBLIN – Allied Irish Banks (AIB) last week announced first half dealing profits of e41 million ($50 million) – less than the amount the bank has set aside to cover costs linked to overcharging for FX deals.
ABN Amro launches IR Mini-Swaps for the risk averse
LONDON – ABN Amro has launched an interest rate hedging tool for clients who do not want to use derivatives to gain exposure to this market.
China and India to halt repatriate flow to US
HONG KONG – Massive investment opportunities in China and India may help Asia withstand a flood of currency repatriation back to the US in the wake of new tax bill the Homeland Investment Act.
Dollar vol could be back
LONDON – The global currency markets could be in for a bout of unseasonal volatility and trading activity if the US dollar breaks through its recent range against the euro, traders said last week.
US equity markets to lead dollar path
US equity market performance will become critical for the dollar, say Neil Mellor and Simon Derrick, currency strategists at Bank of New York in London
AIB repays e 26m for overcharging
Customers to be repaid as regulator's report details AIB's "failures" DUBLIN – Allied Irish Banks (AIB) said it is repaying e 26 million ($32 million) it overcharged clients on three million FX deals, after a regulator slammed the bank in a report last…
Billiton transfers forex to Europe
MELBOURNE – Australian banks in the UK could see added flow going through their FX dealing desks later this year, when the world's largest mining company transfers its remaining forex trading from Melbourne to Europe.