Trading
HSBC cuts in emerging FX
LONDON -- UK-based bank HSBC has cut about 10 European emerging markets positions in London, as part of a decision to move the management of those currencies back to their local centres, a senior official told FX Week .
Aussie’s halcyon days are not over
The Australian dollar’s strong rise in the first half of the year may have fallen off, but that does not mean its best performance is behind it, says Michael Jansen, market strategist at National Australia Bank in Sydney
India’s central bank governor to continue rupee intervention
MUMBAI -- The new governor of the Reserve Bank of India (RBI) is expected to maintain current exchange rate policies, which will cause the Indian rupee to continue its steady rise against the dollar, analysts told FX Week .
ACI Beirut Congress: exhibition preview
BEIRUT -- Between the challenging seminar programme and the exhaustive social schedule planned by hosts of the 43rd ACI World Congress this week, the 600+ delegates will get a chance to sample product demonstrations and promotions at the exhibition.
Forward hedge overlay for euro
A Middle Eastern importer could change its risk profile by overlaying its forward hedges, says Charlie Brown, head of structuring and solutions at Standard Chartered in London. By pairing euro puts at lower levels with euro calls, the importer can assure…
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
All eyes on the Middle East
Growing interest in Islamic banking, new technological developments and a wave of freshly repatriated money have put forex trading in the Middle East on the cusp of an exciting new era, reports Nikki Marmery
EBS sterling push prospers
LONDON -- EBS’s recently launched sterling package has resulted in a 30% increase in new counterparties to the system, an official at the spot broker in London told FX Week.
Changing seasons
Summer volatility in a number of emerging markets is not unusual. Indeed, in the currencies of central and eastern Europe (CEE) it is the rule rather than the exception, says Callum Henderson, head of emerging markets research at Bank of America (BoA) in…
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
Weak economy could prompt Taiwan currency strengthening
TAIPEI – Taiwan’s weak economy could force the currency higher, according to Barclays Capital last week.
Asian central banks favour liberalisation
Recent developments suggest a move towards liberalisation rather than revaluation in Asian currencies, says David Mann (right) economist at Standard Chartered Bank in London
Dual deposits reap high-yield rewards
Ray Franzi, head of FX structuring at Dresdner Kleinwort Wasserstein in London, offers an opportunity for customers to achieve high Japanese yen deposit rates
Scandinavia beckons FX fund managers
LONDON – Low interest rates and relaxed legislation in Scandinavia and continental Europe could make institutional investors in those regions key prospects for currency fund managers.
Time for Asian exporters to 'switch'
Phileas Wong, associate director of risk management advisory at HSBC in Hong Kong, explains how switchable forwards could help exporters in Asia hedge the risk of local currency strength
The euro: a relief valve for imbalance
As the dollar's decline is set to continue, the euro bears the brunt of the global trade imbalance, says Michael Woolfolk, senior currency strategist at Bank of New York in New York