Central Banks
SPECIAL FEATURE: CLS settlement: the next five years
This month marks the five-year anniversary of CLS. FX Week and Rob Close, president and CEO of CLS Bank, discuss the past five years and the future of the industry utility
IMF makes landmark update to exchange rate monitoring
MONTREAL – The International Monetary Fund (IMF) announced an overhaul of its exchange rate policy surveillance framework last Monday (June 18), for the first time in 30 years. The changes oblige member countries to avoid exchange rate policies that…
BIS report highlights trade growth
BASEL – Trading in currency, interest-rate and equity products continues to grow, according to the latest Bank for International Settlements (BIS) quarterly review released last Monday (June 11).
GCC currency uncertain after Kuwait abandons dollar peg
SAFAT, KUWAIT – The decision to abandon the Kuwaiti dinar’s peg to the US dollar in favour of a basket of major currencies has brought into question plans to introduce a single currency for the six Gulf Cooperation Council (GCC) states.
Preparing for a decline in cable
WHAT STRATEGY SHOULD BE ADOPTED AHEAD OF STERLING'S FALL AGAINST THE US DOLLAR? BEN TYLER , ASSOCIATE DIRECTOR, STRUCTURED FX AT LLOYDS TSB CORPORATE MARKETS IN LONDON INVESTIGATES
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
Asia to support global growth
LONDON – Asia holds the key to global growth amid a US slowdown, Marios Maratheftis, FX strategist at Standard Chartered in London told delegates at last week's FX Week Europe Congress.
Currenex adds precious metals
NEW YORK – Currenex is expanding its footprint into precious metals with the addition of gold and silver trading.
Rouble hits seven-year peak against dollar
MOSCOW – The rouble hit its highest level against the US dollar for seven years last week, as the soaring price of oil boosted the Russian unit.
Reserve diversification
Simon Derrick, chief currency strategist at the Bank of New York in London, suggests a simple, low-cost method to take advantage of any move by the Chinese authorities to diversify
Middle East violence boosts US dollar
Conflict in the Middle East contributed to a surge in the dollar and a big drop in the value of Asian currencies last week.
A simple strangle for EUR/GBP vol
Currency managers can insure against unexpected moves in the EUR/GBP using a simple low-cost method, says Neil Mellor, currency strategist at the Bank of New York in London
EBS adds rand to spot trading
LONDON – Interdealer broker EBS has added the South African rand to its spot matching system in conjunction with South Africa's largest liquidity providing banks.
FX volumes ‘up one fifth’ in past year
LONDON – A surge in active currency management has driven up FX volumes by 20% in the past year, according to London-based research firm ClientKnowledge.
Greenspan and Snow to visit Cfets
BEIJING – Alan Greenspan, Federal Reserve chairman, and John Snow, treasury secretary, will visit the Shanghai office of the China FX trading system (Cfets) on their visit to China this week.
Central banks increase FX holdings
BEIJING AND WASHINGTON DC – A Chinese official last week highlighted the possibility of a significant move out of US dollar reserves, as the latest IMF figures show central banks have continued to hold faith in the greenback.
Heading for the final USD selling opportunity
Hans-Guenther Redeker, global head of FX strategy at BNP Paribas in London, suggests a way to take advantage of the prospect of near-term dollar strength to protect against the likelihood of longer-term USD weakness.
‘FX markets are unreadable’
Foreign exchange markets are notoriously difficult to predict, so corporates shouldn’t bother, argues Simon Miles (right), currency strategist at Corporate FX. Instead they should focus on deciding how to hedge the risk so they can determine its real…
‘No’ votes lead to record flows
LONDON – The ‘no’ votes on the EU constitutionreferendums last week led to unexpectedvolatility in the currency markets, and the highestvolumes ever seen on some platforms.
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
Chinese whispers cause confusion
BEIJING – Currency markets were thrown into disarray last Wednesday following an inaccurate news report by a Communist-party-backed news agency claiming China would allow the yuan to appreciate.