Trading
Euro pauses for breath as risk appetite wanes
LONDON -- FX traders had a chance to regroup last week following months of volatile dollar declines and new highs for the euro.
GFI targets corporates for options pricing
LONDON -- New York-based interdealer broker GFI Group today (June 16) launches a new online FX option pricing service targeting corporate firms and lower-volume FX users.
Reduced capital requirements boost brokerage prospects in Hong Kong
HONG KONG -- Companies offering leveraged forex brokerage services in Hong Kong should brace themselves for an influx of competition. New players are being enticed into the market by reduced capital requirements for firms wishing to offer leveraged…
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…
Analysts play down yuan revaluation talk
SHANGHAI -- Despite speculation that China may revalue its yuan currency, analysts polled by FX Week said an imminent change in the currency's peg is unlikely.
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.
Cashflow control for pension portfolio hedges
Neil Record, chairman and chief executive officer of Windsor-based currency overlay manager Record Currency Management, offers a solution to an FX-related problem facing a UK pension fund
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.
Prop desks reap rewards of heightened FX volatility
LONDON -- Banks could be reaping rewards from their proprietary FX trading desks, as swift intra-day market moves continue, dealers have told FX Week .
Japan fights to keep yen down
TOKYO -- Data issued last week by the Bank of Japan (BoJ) revealed that May saw a record amount spent in the FX markets, and proved that Japanese authorities are willing to enter into a protracted battle to prevent yen strength.
Icap thrives on market volatility
LONDON -- UK Inter-dealer broker Icap has seen "another outstanding year" on the back of market volatility, especially in medium-term interest rate markets, said group chief executive Michael Spencer on the announcement of the firm's full-year results…