Trading
Using a long straddle for EUR-USD participation
Armin Mekelburg, currency strategist at HVB in Munich recommends a way to take advantage of the strong swings in the eurodollar
China joins forex community
BEIJING – Large-scale FX trading is coming to the Chinese market, with EBS linking to three major state-owned banks in the country.
Yen set ‘to play catch-up’ with economy
TOKYO – The relative weakness of the yen, despite the Japanese economy’s strength, is set to end shortly, according to market observers.
Simple is best
Simon Derrick, head of currency strategy at Bank of New York in London, says ‘simple is best’ when looking to increase exposure to sterling to take advantage of a continued widening of the interest rate differential
BNP cautions on the dollar
The dollar has gained support from expectations of further rate hikes by the Fed. But Ian Stannard, senior currency strategist at BNP Paribas in London, warns that risks lie ahead for the greenback.
Avian flu: a big risk?
Ashley Davies, FX strategist at UBS in Singapore, identifies the key stages of the spread of a disease, and identifies its impact on the currency markets
Rupee boosted by potential RBI intervention
MUMBAI – Comments from an official at India’s central bank have sparked speculation that it is set to intervene to protect its currency, providing a brief boost for the rupee last week.
Forex hits the wild east
ALMATY – The rapid expansion of the emerging market economies is forcing the development of local currency derivatives markets.
Dollar strength to continue
Investor Bank & Trust continues its ascent up the three-month rankings as its commitment to a bullish dollar view pays off.
Yuan for the money
With the growing importance of the Chinese market, James Malcolm, senior currency strategist at Deutsche Bank in Singapore, suggests range-trading USD/CNY NDFs from the short side, to capture gains
Interactive to switch FX feed
BEDFORD, MASSACHUSETTS – Data vendor Interactive Data is to switch off an old forex data feed from its ComStock division and replace it with a new one from another part of ComStock, GTIS.
2005 a tough year for FX investors
Deutsche Bank's currency strategy team looks at what's working and what's not for FX investors and which trading styles have worked best in 2005
BarCap predicts dollar fightback
Barclays Capital has moved up the ranks in the one-month forecast by accurately predicting US dollar weakness in August would be short-lived.
Dow Jones adds to forex coverage
HONG KONG – Dow Jones Newswires has launched a website to complement its 'CommentaryPlus' real-time commentary and analysis service.
China heading for free market
SHANGHAI and Beijing – China took two further steps towards currency liberalisation last week, with a widening of the yuan trading band and the introduction of forwards trading for corporates.
All this and more
In the final multibank platform focus, FX Week looks at the prospects of FXall in its bid to continue the growth it saw in its first four years
StanChart becomes EBS Prime bank
LONDON – Standard Chartered has joined EBS Prime as a prime bank, in a move the platform hopes will boost its penetration in emerging markets.
Central banks increase FX holdings
BEIJING AND WASHINGTON DC – A Chinese official last week highlighted the possibility of a significant move out of US dollar reserves, as the latest IMF figures show central banks have continued to hold faith in the greenback.
Hotspot FXi adds Singapore dollar trading
SINGAPORE – Electronic trading platform Hotspot FXi has today launched trading in Singapore dollars to meet growing demand from clients.
When is it appropriate to use average rate options?
Corporates can fall into the trap of using average rate options as a cheaper alternative to European options. Jeff Cooper (right), vice-president, foreign exchange, Bank of Montreal in Toronto, clarifies the misconception
China stirs the pot
Daniel Katzive, UBS currency analyst in Stamford, looks at the implications of China's decision to widen the band on the yuan peg
RBS hits top spot in Risk poll
LONDON – Derivatives market giants Deutsche Bank, JP Morgan, UBS and Credit Suisse First Boston (CSFB) are facing a threat from a wider number of banks trying to capture interbank business.
Platforms adopt algorithmic trading
NEW YORK – Algorithmic trading continues to gather momentum, with trading platforms EBS and Hotspot FXi linking to software provider Progress Software Corporation's Apama Algorithmic trading software.
Iceland builds foreign reserves
REYKJAVIK – The Central Bank of Iceland (CBI) has decided to increase its USD/ISK weekly buying from $2.5 million to $12.5 million by the end of the year following the improved liquidity position of the Treasury.