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FX Markets Staff

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Articles by FX Markets Staff

Tough times ahead for US dollar

Mike Gallagher, director of research at IDEAglobal in London, evaluates the outlook for the US dollar amid prospects for lower US growth and rates

Bear Stearns raids BNP Paribas

LONDON & PARIS – Bear Stearns has boosted its foreign exchange sales team in London with two hires from French rival BNP Paribas, market sources tell FX Week .

BoA grows in London

LONDON – Bank of America (BoA) has made three hires in London as it expands its trading capabilities in the city, a spokesperson for the bank in New York told FX Week .

FXMS deepens global footprint

LONDON & HONG KONG – FXMarketSpace (FXMS) has expanded its global sales team, hiring two new sales staff in Europe and Asia.

Parker FX Index dips 0.58% in July

STAMFORD, CT – The Parker FX Index was down 0.58% in July, with 36 indexed programmes reporting positive results and the remaining 45 incurring losses.

Market-makers need to get technical

The recent weeks of volatility have highlighted the need for dealers to have appropriate systems in place to manage and assess FX trading activity. As a number of dealers experience record volumes in August, others question the profitability of these…

Icap and CME Group report bullish trading in August

LONDON & CHICAGO – Interdealer broker Icap and the Chicago Mercantile Exchange Group (CME Group) have posted record volumes in foreign exchange trading for August, amid continued high volatility in the currency markets.

Carry-trade capitulation

When the market turmoil subsides, the yen will give up some of its 2007 gains in 2008 and will remain undervalued by past norms, says Gabriel de Kock, Citi's global currency economist in New York

ODL embarks on global expansion

LONDON – ODL Securities, a London-headquartered foreign exchange, equities, derivatives and commodities trading firm, is expanding its FX business with the support of a private placement worth £14 million ($28 million).

Another instalment in the Refco saga...

NEW YORK – Trusts representing Refco creditors and customers have filed a lawsuit for more than $500 million against the defunct futures broker's legal and accounting advisers.

Singapore banks lose FX revenues

SINGAPORE – DBS Bank, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) reported sharp declines in foreign exchange revenues in the second quarter of this year, down from the same period last year.

RBC and Citi raid BNP

LONDON – The Royal Bank of Canada (RBC) and Citi have poached two foreign exchange salespeople from BNP Paribas in London, market sources say.

Credit Agricole up, West LB down

PARIS & DUSSELDORF – Credit Agricole and West LB posted differing results last week, the former experiencing buoyant gains while the latter suffered a decline.

Barclays taps HK retail investors

HONG KONG – Barclays has launched a currency-linked fund for retail investors in Hong Kong that is based on its carry index.

Rating agencies assess CP markets

EUROPE – Fitch Ratings and Moody's sought to capture the effect of the commercial paper (CP) market's lack of liquidity on the wider banking outlook in two conference calls last week.

MD leaves Citigroup for Noble

HONG KONG – Jeremy Amias, managing director of Citigroup and head of fixed income, currencies and commodities (FICC) for the Asia Pacific region, is leaving the bank.

BoA shuffles top level

LONDON – Greg Kaldor has relinquished his role as managing director and co-head of foreign exchange institutional sales at Bank of America (BoA), less than two months after the departure of colleague Max Leffen.

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