Trading
BTM lead in Japanese forex slipping
TOKYO -- Bank of Tokyo-Mitsubishi (BTM) remains the top Japanese foreign exchange house in the country, with revenues for the first half of the Japanese fiscal year ending September 30 totalling ¥36.1 billion.
Soft knock-in knock-out forward
The soft knock-in knock-out forward presents a new way to look at knock-ins and knock-outs, taking away the negative impact of untimely barrier events says Enrico Ferrante, senior structurer at Calyon in Paris
Swissie sways FX sentiment
While the euro/dollar pair has continued to grab the headlines over the past month for its unpredictability, it is the Swiss franc/greenback pairing that has caused forecasters the most difficulties.
CLS adds four more currencies
HONG KONG -- CLS is to bring four new currency pairs onto its platform: the New Zealand dollar, the South African rand, the Hong Kong dollar and the Korean won.
Dollar to plummet further in 2005
Continued dollar weakness in 2005 will fuel European and Japanese currency strength and damage export demand, according to Tony Norfield, ABN Amro's global head of FX strategy in London
Intervention will not halt dollar weakness
SEOUL – The dollar's dive against Asian currencies to record lows is unlikely to be halted by large-scale intervention, according to analysts.
Will Asia dump the dollar?
The possibility of a dollar collapse must be taken seriously. The US's benign neglect is increasingly untenable, says Tim Clayton, analyst at market analysis firm Investica in London
Euro role grows, says ECB
The euro is increasingly being used as an international currency and its place in the global markets is becoming ever more important, a European Central Bank (ECB) official told delegates at the FX Week congress in London last week.
Congress clips
The continuous-linked settlement (CLS) service for settling foreign exchange trades announced the launch date for the next group of currencies to join the service.
Size of dollar fall surprises
With a swing of more than 9% in the euro/dollar pair in the month to November 22, banks underestimated the size of the dollar's fall across the board. But BNP Paribas, which ranked top for the one-month forecasts this week, picked up on the dollar's…
Dynamic hedging strategies in Turkish lira
Emerging markets options offer the benefit of extreme differences in implied volatility and interest rate differentials. Here, James Davison, FX derivatives marketer at ABN Amro in London, outlines how corporate clients can see the benefits investors…
Trends are the way forward
Jessica James, director of the risk advisory group at Citigroup in London, extolled the virtues of trend and carry strategies for FX trading at the FX Week Congress in London last week.
CME expects prop trading growth
The changing shape of the FX market and of the world economy will lead to significant changes in the way foreign exchange is traded.
Who wins from yuan revaluation?
With a potential yuan revaluation looming, Adam Cole, senior currency strategist at Royal Bank of Canada in London, analyses the impact on the G10 FX markets.
Slow start for India's retail FX market
MUMBAI – Nine months after retail investors were given the de facto go-ahead to start forex trading overseas, volumes have been subdued, say analysts.
Dollar to fall after G20 summit?
The G20 summit on Saturday could presage another drop in the dollar against the euro, according to forecasters on the FX Week Currency Forecasts Index, speaking last week.
Protecting against losses while making gains
Given the rapid, one-way move in the Canadian dollar (CAD), many hedgers who are short CAD are looking for innovative hedging ideas. John McAuliffe, manager, US FX options sales at the Bank of Montreal in Chicago, suggests some options
Sea-change in EUR/USD views
The lifetime high in euro/dollar last week – breaking through 1.30 briefly on Wednesday (November 10) – has prompted most contributors on the FX Week Currency Forecasts Index to revise their euro/dollar forecasts upwards.
Concerted intervention ruled out
FRANKFURT – Despite increasingly vigorous comments from European politicians arguing in favour of stemming the onward rise of the euro, concerted intervention from Europe and the US is extremely unlikely.
Non-US airlines profit from low-flying dollar
NEW YORK – The weak dollar is giving airlines outside the US some relief from the impact of high fuel costs, according to their latest financial results.
Banks review yuan reval forecasts
BEIJING – Some bank analysts have brought forward their expectations of regime change in the Chinese yuan, following the rate hike by the People's Bank of China late last month.
The American-style participating forward
Clients wishing to trade at a pre-specified strike rate during a certain window period, should consider the American-style participating forward, say Bank of America options specialists Jim Kamphoefner in San Francisco and Ravi Chopra in Singapore
FX – the odd man out
The currency market is decoupling from other markets. This is not sustainable, says David Woo, head of FX strategy at Barclays Capital in London