Trading
Dollar strength despite deficit
Investors Bank & Trust topped the one-month ranking thanks to an accurate prediction on the market’s attitude to the US twin deficits (current account and budget) earlier this year, which led it to a stronger dollar forecast (FX Week, March 7).
‘FX markets are unreadable’
Foreign exchange markets are notoriously difficult to predict, so corporates shouldn’t bother, argues Simon Miles (right), currency strategist at Corporate FX. Instead they should focus on deciding how to hedge the risk so they can determine its real…
‘No’ votes lead to record flows
LONDON – The ‘no’ votes on the EU constitutionreferendums last week led to unexpectedvolatility in the currency markets, and the highestvolumes ever seen on some platforms.
EBS opens in Korea
SEOUL – EBS , provider of electronic trading and market data solutions, has opened in Korea as an offshore broker for non-South Korean won pairs.
Euro returns to fair value
Stephen Jen, global head of currency research at Morgan Stanley in London, argues that the fall in the euro is more a reflection of the fact that the single unit was overvalued than a reaction to the ‘no’ votes in France and Holland.
Imbalances the major threat
STOCKHOLM – Global imbalances caused by currency intervention are building up and pose a real threat to world economic stability. This was the key message of central bankers at last week’s ACI conference in Stockholm.
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
Calyon gets it on cable
Calyon and HSBC were closest in predicting where sterling would end up for their three-month forecast. They both posted 0.126% divergence for cable in the three-month ranking.
Skandies set to diverge
The Norwegian krone likely to strengthen against the Swedish krona in the short term, according to Emma Lawson, FX associate at Merrill Lynch in London
EBS Prime enters Asia-Pacific region
LONDON – Interbank trading platform EBS has extended the EBS Prime service into the Asia-Pacific region, expanding beyond Europe and the US.
Top stories from 15 years of FX Week AIB losses a 'one-off'
LONDON – The foreign exchange industry is unanimous in its verdict that the disastrous $750 million FX loss announced by AIB last Wednesday was a one-off event.
HKMA limits spec trading
HONG KONG – Authorities clamped down on speculative trading on the Hong Kong dollar last week by introducing a ceiling on the currency at HK$7.75 per US dollar.
Stockie weakness despite economic strength
STOCKHOLM – For a currency with such strong economic fundamentals, the Swedish krona has seen surprising weakness this year, as many in the market have discovered to their cost.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Top stories from 15 years of FX Week Emerging markets' glitter fades
KUALA LUMPUR – Foreign exchange controls imposed on the Malaysian ringgit on Tuesday, September 1, have sparked fears that the shine may have left the emerging currencies market, according to industry sources.
How to benefit from a weaker pound
For the currency manager looking to take advantage of fresh sterling weakness, Simon Derrick, head of Bank of New York's currency strategy team, describes a simple, low-cost way for them to express their view
Interbank FX trading takes off in China
SHANGHAI – China Foreign Exchange Trading System (CFETS) opened its interbank FX trading business last week, leading to speculation that a shift in currency policy may be imminent.
Correction for greenback pays off
Online forex trading firm MG Financial tops the one-month ranking following its decision to correct its EUR/USD forecast back in early April, said Ashraf Laidi, chief currency analyst in New York.
Will sterling lead the USD?
Hans Redeker, global head of FX strategy at BNP Paribas in London, says recent strength in the dollar is likely to be short-lived
No need to shift the Hong Kong dollar peg
Tai Hui (right), economist at Standard Chartered in Hong Kong, presents four reasons why the Hong Kong authorities should not change the HK dollar’s peg to the greenback
No soft patch for the dollar
Bank of Montreal (BMo) tops the three-month ranking with a view that the US economy would not go through the soft patch some of the other banks were predicting.
Chinese whispers cause confusion
BEIJING – Currency markets were thrown into disarray last Wednesday following an inaccurate news report by a Communist-party-backed news agency claiming China would allow the yuan to appreciate.