Corporate confidence in FX on the rise
IAS 39, which requires European corporates to explain the impact of their FX activities on their balance sheets, initially led to a dip in hedging activity, according to Adrian Walkling, London-based global head of FX structuring at UBS. He said: "To begin with, corporates stepped back while they tried to work out the implications of the accounting standard, but we have seen a definite pick-up over the past few months."
He said the bank has seen an increase in demand for a wider range of FX
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