Articles by FX Markets Staff
Citigroup defies downturn
Top player’s revenues up again as gap widens between the best and the rest
Reliant on foreign inflows
Stock markets may be falling, but foreign investors are still buying US equities, says Michael Woolfolk, currency strategist and head of North America research at Bank of New York
DrKW reorganises capital markets
LONDON -- Dresdner Kleinwort Wasserstein (DrKW) has appointed Achilles Macris and Erich Pohl as global co-heads of its capital markets operation in London, the bank announced last week.
e-Mid targets electronic settlement of MM trades
MILAN -- e-Mid, a provider of electronic markets for treasury products, aims to reduce money markets settlement risk on its platforms by automating the process, according to an official at the firm in Milan.
Deutsche Bank reveals role in providing 9/11 liquidity
PARIS -- Michael Reuther, global head of funding at Deutsche Bank, revealed last week how the European Central Bank and the Federal Reserve Bank of New York created an emergency E50 billion 'synthetic' liquidity facility in the wake of last year's World…
Bloomberg's e-forwards debut
NEW YORK -- Bloomberg has completed the rollout of its PowerMatch FX interbank platform for forward swaps, it announced last week.
De Vries takes on global FX for ING Financial Markets
LONDON -- Ted de Vries, Amsterdam-based global head of ING Financial Markets, has taken over direct responsibility for global FX, the bank said last week.
HSBC wins Asian forex derivatives award
HONG KONG -- HSBC was named 'Forex Derivatives House of the Year' in FX Week sister magazine AsiaRisk's 2002 awards, published this month.
Funds step up online FX trading
NEW YORK -- Fund managers are trading more foreign exchange online, according to numbers released by multi-bank portal FXall last week. The client sector now accounts for one quarter of trades by volume on FXall, up from 7% at its launch in May 2001.
Asian currencies stable following Bali attacks
JAKARTA -- Fears of a renewed period of currency instability in South East Asia following the October 12 terrorist attacks in Bali eased as the rupiah stabilised last week. The world's second best performing currency this year bounced back after hitting…
Misreading the signals
The US current account deficit is an overestimated factor in determining the dollar's direction, says Niels Christensen, senior currency strategist at SG in London
FXall ups customer list to 350
NEW YORK -- Multi-bank FX trading portal FXall last week announced it has signed up more than 350 customers, following the addition of a monthly record of 44 new clients in September.
Prebon Yamane snares rival's forwards brokers
LONDON -- Interdealer broker Prebon Marshall Yamane in London has hired a team of three currency forwards brokers from rival RP Martins.
Sterling credit crisis raises FX fears
LONDON -- Fears for the long-term future of sterling forex have been heightened by the revelation of a liquidity crisis in sterling bonds.
Changing face of forex intervention
LONDON -- The changing nature of what motivates forex players to trade has shifted the thinking behind official intervention in the currency markets, according to James Trott, former chief dealer at the Bank of England.
Real hammered as election woes bite
SAO PAULO -- The Brazilian real dropped near to its lowest-ever level last week as political uncertainty continued following the presidential election on October 6.
Soros slates Europe and ECB
LONDON -- Legendary currency speculator and financier George Soros last week delivered a damning verdict on Europe's economy and its central bank.
Upsurge in German forex
FRANKFURT -- Deregulation of the German insurance market is attracting the world's top investment banks to expand in Frankfurt.
Convenience is key for online trading
GENEVA -- Convenience is a key factor driving buy-side clients' use of online FX portals, according to professionals attending the Swift International Banking Operations Seminar (Sibos) conference in Geneva at the start of this month.
Euro, yen: G3 laggards
As domestic demand in the Eurozone and Japan slumps, the dollar has shrugged off news of a current account deficit, says Richard Grace, senior currency strategist at WestLB
Germany to look at Tobin FX tax
FRANKFURT -- Germany's new government is considering the introduction of the Tobin tax on foreign exchange transactions, Reuters reported last week.