Brazilian real
SocGen makes Americas FX push with string of new hires
French bank eyes US and Latin American real money clients
LSEG’s FXall to open access for banks’ NDF algos
Move tipped to help smooth buy-side adoption of algo execution for non-deliverable forwards
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
BNP and Deutsche add new Brazil NDF algos
The banks add USD/BRL to their respective suites, with tenors tied to the onshore futures expiries
Franklin Templeton and Citi top for FX options
Counterparty Radar: Data shows US bank as top dealer for mutual funds in Q3 and Q4, while Californian manager is biggest user
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
Industry bodies mull reform of disruption fallbacks
Following Argentine peso debacle, GFXC and others seek alternatives to fallback protocol
LCH to launch non-deliverable options clearing
Clearing service will go live in Q4 for nine currency pairs
Market turmoil causes traders to pull back to vanilla strategies
Emerging markets spreads tighten but liquidity still patchy
Best Bank Awards: Banco Santander
Banco Santander has been voted Best bank for emerging Latin American currencies at the 2019 FX Week Best Bank Awards
Brazilian central bank to sell dollars outright for first time since 2009
It remains committed to floating currency regime
UBS developing customisable client pricing engine
Swiss bank wants to give individual clients fully customised price without affecting system performance
Rabobank: US and China heading for Cold War
Fed cuts will not be enough to sustain EM currencies while capital outflows continue as tensions persist
SEB: tariffs won’t dampen China’s growing influence on global economy
But in the short run, threats will knock renminbi and other emerging market currencies
Currency losses at North American corporates rise to nearly $21 billion
Currency gyrations from geopolitical events continue to create headwinds for some businesses
LCH adds five currencies to non-deliverable swaps offering
Expansion in response to customer demand in Asia and Latin America
Monex Europe: China’s falling growth is biggest risk for EM currencies
But, following stimulus packages, the broker maintains bullish stance on renminbi
North American corporates lose $11bn on FX volatility
Almost six times as many companies reported currency headwinds in third quarter, FireApps analysis shows
ABN Amro: investor sentiment remains EM currencies’ Achilles heel
While EMFX valuations are attractive, their good fortune is contingent on other markets
Fed’s room to hike spells trouble for EMs – Scotiabank
Central banks’ interest rate tightening will make it hard for emerging markets with large deficits