Trading
Sars ‘rebound’ boosts HK dollar
HONG KONG -- The recent strengthening of the Hong Kong dollar is due to government policies encouraging economic co-operation between Hong Kong and mainland China and the ‘rebound’ from the Sars outbreak, claims a Hong Kong Monetary Authority (HKMA)…
Hotspot live on Bloomberg
NEW JERSEY -- Hotspot FXi, the New Jersey-based online institutional FX trading platform, goes live today with streaming spot prices on Bloomberg terminals.
The ratchet structure: improving with the market
With more complex options available and increasing customer sophistication, strategies in vogue are changing swiftly. David Popplewell and Richard Summerbell in RBS’s FX options structuring group in London say they are seeing a distinct shift in…
Market eyes fresh dollar falls
LONDON -- Forex market analysts and traders are predicting fresh falls for the dollar in the coming months after euro/dollar hit successive record highs last week.
Aussie dollar nears its cyclical peak
The Australian dollar’s rally is almost over and investors should look to take profits or reduce long positions in the coming months, says Karen Pringle, senior currency strategist at ANZ Investment Bank in London.
Non-exporters still have exposure to currencies
Options could be the answer for a manufacturing company facing the twin problems of foreign competitors undercutting its prices and of the companies it supplies being less successful with an appreciating currency. Alex Barrett and Demetri Papacostas, of…
Euro/yen to trend lower
Eurozone competitiveness versus the yen has fallen sharply since a peak in 2001, and the current level of euro/yen is likely to fall again by mid-2004, says Steven Saywell (right), director of currency strategy at Citigroup in London
E-dealing requires better pricing
Efficiency gains available from technology are being undermined by pricing discrepancies, says Cognotec chairman Brian Maccaba.
RG Niederhoffer launches negative correlation fund
NEW YORK -- New York-based hedge fund manager RG Niederhoffer Capital Management has launched a negative correlation fund to help equity investors take advantage of short-term FX moves.
Soft Accumulator: improving hedging levels
BACKGROUND: European importers who need to buy US dollars are not complaining about the current euro/dollar rate of exchange.
UBS ousts Citi from top spot
LONDON -- UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters in FX Week’s annual survey of the industry.
ABN index set for Japan debut
LONDON -- ABN Amro's global FX research team has been invited to present its Speculative Position Index (SPI) to Japanese policy officials later this month due to the accuracy of its modelling.
Bumper bonuses expected
LONDON -- Forex bonuses in the new year look set to outstrip 2002 payouts by up to 40%, traders and recruiters told FX Week .
StanChart continues FX build-up in Africa
LUSAKA -- Standard Chartered sold its first Zambian kwacha FX options in October, as part of its continued forex build-up in Africa, senior officials told FX Week .
Yen and the art of market cycle maintenance
The yen resurgence that began this summer is still in play. But with the Japanese authorities still sporadically intervening in the currency markets, this upward path may meet some sharp setbacks. Simon Derrick, head of Bank of New York's currency…