Trading
Market eyes fresh dollar falls
LONDON -- Forex market analysts and traders are predicting fresh falls for the dollar in the coming months after euro/dollar hit successive record highs last week.
FXall breaks volume record
NEW YORK -- Growing institutional use of FXall helped the multi-bank portal set a new volume record in November, it announced last week.
Aussie dollar nears its cyclical peak
The Australian dollar’s rally is almost over and investors should look to take profits or reduce long positions in the coming months, says Karen Pringle, senior currency strategist at ANZ Investment Bank in London.
Non-exporters still have exposure to currencies
Options could be the answer for a manufacturing company facing the twin problems of foreign competitors undercutting its prices and of the companies it supplies being less successful with an appreciating currency. Alex Barrett and Demetri Papacostas, of…
AIG cuts ahead of integration
GREENWICH, CT -- Recruitment consultants in the US report that up to 70 staff have already left the American Insurance Group as it prepares to integrate subsidiaries AIG Trading and AIG Financial Products.
Dollar trend drives fund profits
STAMFORD -- The success of models in capturing early trend moves in the dollar drove 57% of currency fund managers in the Parker FX Index to achieve gains in October. But gains were limited, as the index was up only 0.6%.
Market consolidation ‘not all bad’
Consolidation in the FX market has not adversely affected efficiency or liquidity, Mark Monahan, global head of sales at EBS told delegates at the FX Week congress in London last week.
Tokyo-Mitsubishi’s ‘creativity’ boosts revenues
TOKYO -- Bank of Tokyo Mitsubishi (BTM) has strengthened its position as one of Japan’s top FX providers, with a rise in FX revenues for the first half of the financial year.
Euro/yen to trend lower
Eurozone competitiveness versus the yen has fallen sharply since a peak in 2001, and the current level of euro/yen is likely to fall again by mid-2004, says Steven Saywell (right), director of currency strategy at Citigroup in London
‘No euro target’ for ECB
LONDON -- The European Central Bank has no target level for the exchange rate of the euro, director of monetary policy, Hans-Joachim Klöckers, reiterated at FX Week ’s second annual congress last week.
E-dealing requires better pricing
Efficiency gains available from technology are being undermined by pricing discrepancies, says Cognotec chairman Brian Maccaba.
FX scam at top banks exposed
NEW YORK -- A currency trading scam allegedly carried out by five traders at top global banks, nine brokers and three officials at retail FX firms -- including a former member of the Federal Reserve’s FX committee -- was uncovered last week as part of…
RG Niederhoffer launches negative correlation fund
NEW YORK -- New York-based hedge fund manager RG Niederhoffer Capital Management has launched a negative correlation fund to help equity investors take advantage of short-term FX moves.
Soft Accumulator: improving hedging levels
BACKGROUND: European importers who need to buy US dollars are not complaining about the current euro/dollar rate of exchange.
UBS ousts Citi from top spot
LONDON -- UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters in FX Week’s annual survey of the industry.
ABN index set for Japan debut
LONDON -- ABN Amro's global FX research team has been invited to present its Speculative Position Index (SPI) to Japanese policy officials later this month due to the accuracy of its modelling.
