Trading
FX adds shine to banks' Q4 results
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.
UK pension funds face cashflow crisis
LONDON - A predicted GBP downturn means pension funds in the UK need to be prepared to pay out "real money" on losses from passive currency hedges on their overseas investments, warned currency managers.
Yen stands strong
Philip Brass, global head of CitiFX flows in London, predicts a prolonged period of yen strength as holders of short yen positions change their investment strategies
CFTC stays quiet on forex scam
WASHINGTON DC - The United States Commodity Futures Trading Commission (CFTC) said it could neither "confirm nor deny" the existence of an investigation by its offices into a US man who allegedly defrauded investors millions of dollars.
Informa wins with weak-dollar view
Informa Global Markets topped this week's one-month forecast rankings by maintaining a longstanding view of US dollar weakness versus the euro and yen.
UBS wins A&L's options outsourcing
LEICESTER - Alliance & Leicester (A&L) has contracted UBS to provide foreign exchange options technology to the UK bank.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
FX market goes back to fundamentals
LONDON - A correction in overvalued currencies and risk aversion will promote strategies based on economic factors and real value this year, say analysts.
Dah Sing Bank deploys Fenics FX
HONG KONG - Dah Sing Bank has begun using foreign exchange options pricing and risk management system Fenics FX, developed by interdealer broker GFI, at its Hong Kong-based treasury department.
EUR/USD correction puts BNP on top
BNP Paribas topped this week's three-month forecast rankings by predicting a correction in EUR/USD, led by US dollar weakness.
Coming on strong
Lydia Kranner, analyst at RZB in Vienna, evaluates the prospect of Chinese yuan appreciation in 2008
The final frontier
Win Thin, senior currency strategist at Brown Brothers Harriman & Co in New York, evaluates the investment prospects for the frontier markets
The power of pessimistic thinking
SEB tops this week's 12-month forecast rankings as a weaker-than-consensus view on the US dollar materialised over the course of the past year.
Yen carry traders dealt New Year blow
LONDON & TOKYO - Several dealers were caught out when rolling over short yen positions in GBP/JPY carry trades over the New Year period as the yen surged against the pound, traders told FX Week .
Trading levels show growth of forex as asset class
LONDON & CHICAGO - Interdealer broker Icap and the Chicago Mercantile Exchange (CME) reported record foreign exchange trading volumes in 2007, demonstrating the continued adoption of forex as an asset class.
SWFs look beyond the US dollar
NEW YORK & HONG KONG - The greenback is likely to be the main loser as sovereign wealth funds (SWFs) diversify into yen and other non-euro currencies, say analysts.
Yen carry traders dealt New Year blow
LONDON & TOKYO - Several dealers were caught out when rolling over short yen positions in GBP/JPY carry trades over the New Year period as the yen surged against the pound, traders told FX Week.
ANZ triumphs with bearish USD view
A bearish view on USD has helped ANZ climb to the top of FX Week 's one-month forecast rankings.
G-10 currencies face a grim 2008
John Hydeskov , senior FX analyst at Danske Markets in Copenhagen, predicts the road ahead for G-10 currencies in light of an ongoing financial crisis
Short-dated RMB forwards curve widens
HONG KONG - Short-term renminbi non-deliverable forwards (NDFs) will remain priced higher than onshore forwards into year end, as a US dollar liquidity squeeze causes onshore market participants to hold onto the greenback, say analysts.
Scotia and Danske reach top spots
Bullish EUR/GBP views have pushed Scotia Capital and Danske Bank to the top of FX Week 's three-month and one-month currency forecast rankings, respectively.
Pegging hopes on GCC currency reform
Marios Maratheftis, Dubai-based regional head of research for Middle East, North Africa and Pakistan at Standard Chartered, calls for currency reform by the GCC
Hotspot FXi revamp means faster trades
JERSEY CITY, NJ - Electronic communications network (ECN) Hotspot FXi plans to implement a multiple-server matching engine architecture to replace its single matching engine in January 2008, to improve the platform's performance.