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Banks counter IAS39 threat

LONDON -- Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex FX hedging activity.

US dealers revise op risk standards

NEW YORK -- The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money FX options in a revision of its 1996 forex op risk best practices document…

UK top tier to survive euro

LONDON -- The UK government outlined its view on euro entry last week, but the potential death of the sterling market would be unlikely to dent the top UK banks in FX.

Cheap volatility brings yen opportunities

Japanese economic growth has outstripped many western economies over the past year, and the next currency breakout in the FX markets could be yen strength. Alex Schumann and Trevor Nathan, of Commonwealth Bank of Australia in Sydney, show how investors…

New Europe's FX trials

The convergence process of accession countries has been put into question. Currencies of those countries, and the Hungarian forint in particular, are likely to continue to be under pressure, say Mehmet Simsek (right) and Yianos Kontopoulos, FX…

Huge profits for German auto hedges

MUNICH -- The euro’s continued rise against the US dollar has turned forex hedges into a huge money-maker for German auto manufacturers, according to research made public last week.

Yen drives fund gains

STAMFORD, CT -- Movements in Japanese yen helped nearly 75% of currency managers on the Parker FX Index to record positive returns in April, while the index itself was up 0.9%.

Put the brakes on

European policymakers may have cause for concern if the recent euro rally continues, says Paul Meggyesi, senior currency strategist at JP Morgan Chase in London

Yield chasers boost British pound

LONDON -- In a week dominated by interest rate decisions and outlooks, the British pound powered to a three-and-a-half-year peak against the US dollar.

ACI/ICA link-up welcomed

BEIRUT -- Forex vendors last week welcomed the decision by ACI -- The Financial Markets Association to combine its global forex congress with the InterArab Cambist Association (ICA) congress in Beirut, Lebanon.

ACI/ICA link-up welcomed

BEIRUT -- Forex vendors last week welcomed the decision by ACI -- The Financial Markets Association to combine its global forex congress with the InterArab Cambist Association (ICA) congress in Beirut, Lebanon.

Sars leaves FX untouched

HONG KONG/TORONTO -- Despite fears that the Sars outbreak would affect volumes and markets globally, the forex industry escaped the crisis unscathed.

A new crystal ball

Second-guessing the Federal Reserve is getting more complicated as the central bank enters uncharted territory, says Lara Rhame, FX economist at Brown Brothers Harriman in New York

Hedge optimisation under IAS39

All European Union listed companies must implement IAS 39 by the end of this year. Raymond Franzi, head of structuring, and Emmanuel Burot, head of structuring and accounting at Dresdner Kleinwort Wasserstein in London, outline how a European firm should…

ETrade enters FX with Saxo Bank

LONDON -- Online bond and equity retail trader ETrade has made its first foray into FX by becoming a white-label partner of Danish FX dealer and technology provider Saxo Bank.

BTM top in Japanese FX

TOKYO -- Bank of Tokyo-Mitsubishi (BTM) has cemented its position as the top Japanese forex provider, reporting a 3% rise in yen terms in revenues for the full-year 2002.

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