Articles by FX Markets Staff
Top three make biggest gains
LONDON -- FX traders are used to hearing about the growing dominance of the top five or 10 banks in foreign exchange. But according to FX Week ’s exclusive yearly round-up of banks’ forex revenues, the process of consolidation is accelerating much more…
JP Morgan Chase expands global hedge fund sales
NEW YORK -- JP Morgan Chase has added three new FX sales staff in New York and Tokyo as part of an ongoing expansion in institutional forex.
Top three make biggest gains
LONDON -- FX traders are used to hearing about the growing dominance of the top five or 10 banks in foreign exchange. But according to FX Week ’s exclusive yearly round-up of banks’ forex revenues, the process of consolidation is accelerating much more…
Investors boost forex fund returns
NEW YORK -- Market trends and a surge in interest from investors is creating a bumper year for investment managers specialising in FX.
Banks take tighter control of liquidity management post CLS
LONDON -- The Continuous Linked Settlement Service (CLS) is affecting liquidity management processes, with many settlement members taking tighter control of their payment procedures, senior bank officials told FX Week .
Fairex opens Japan data centre
SINGAPORE -- Singapore-based e-trading technology company Fairex International Financial Systems has opened a data centre in Japan, and plans further expansion into the Japanese market, a senior official told FX Week .
ECB beckons Trichet as Credit Lyonnais trial ends
PARIS -- Jean-Claude Trichet -- front-runner for the top post in European central banking -- was acquitted of false accounting last week.
BBA launches new Libor fixings
LONDON -- The British Bankers’ Association (BBA) added two new currencies to its Libor (London Interbank Overnight Rate) fixings last week.
CMC to launch in N America
NEW YORK -- Online FX trading firm CMC Group is making a bid for North American retail forex clients with a new office in New York.
SG launches first UK currency warrants
LONDON -- SG, the investment banking arm of Société Générale, has issued the first currency warrants in the UK. This follows the release of warrants linked to oil, gold and house price moves by Goldman Sachs, SG’s biggest rival in this area.
No change likely for ringgit/dollar peg
KUALA LUMPAR -- The Malaysian ringgit’s (MYR) peg to the US dollar is likely to remain in place, analysts in Asia told FX Week , despite mounting speculation last week that it may be relaxed ahead of Malaysian prime minister Mahathir Mohamad’s retirement…
Wells Fargo adds to online FX
SAN FRANCISCO -- US Bank Wells Fargo (WF) has introduced a new version of its online FX service for its correspondent banks.
Politics mars eastern European FX process
BUDAPEST -- Political interference in Hungary’s monetary policy decisions could ultimately damage regional currencies and derail the accession process to the eurozone, analysts told FX Week .
Is the dollar bouncing back?
The US dollar may have been mired in decline in recent months, but a recovery could be on the cards sooner than expected, says Tony Norfield, global head of FX strategy at ABN Amro in London
Rabo loses global FX head
LONDON -- Dutch Bank Rabobank is currently without a global head of foreign exchange following the departure of Gary Kaye from the London office last Monday (June 16), a spokesperson for the bank in Utrecht told FX Week .
Standard Chartered makes senior forex appointments
LONDON -- Standard Chartered Bank in London appointed a new head of global markets, UK and Europe, last week (June 16), a senior bank official told FX Week .
Multi-choice options for eurozone exporters
The multi-choice strategy forward option can offer flexibility to a euro-denominated exporting company looking to hedge its long-term dollar exposures, says Roman Stauss, head of FX product development at Commerzbank Securities in London
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.
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…
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…
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.