Trading
Non-exporters still have exposure to currencies
Options could be the answer for a manufacturing company facing the twin problems of foreign competitors undercutting its prices and of the companies it supplies being less successful with an appreciating currency. Alex Barrett and Demetri Papacostas, of…
Euro/yen to trend lower
Eurozone competitiveness versus the yen has fallen sharply since a peak in 2001, and the current level of euro/yen is likely to fall again by mid-2004, says Steven Saywell (right), director of currency strategy at Citigroup in London
E-dealing requires better pricing
Efficiency gains available from technology are being undermined by pricing discrepancies, says Cognotec chairman Brian Maccaba.
RG Niederhoffer launches negative correlation fund
NEW YORK -- New York-based hedge fund manager RG Niederhoffer Capital Management has launched a negative correlation fund to help equity investors take advantage of short-term FX moves.
Soft Accumulator: improving hedging levels
BACKGROUND: European importers who need to buy US dollars are not complaining about the current euro/dollar rate of exchange.
UBS ousts Citi from top spot
LONDON -- UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters in FX Week’s annual survey of the industry.
ABN index set for Japan debut
LONDON -- ABN Amro's global FX research team has been invited to present its Speculative Position Index (SPI) to Japanese policy officials later this month due to the accuracy of its modelling.
Bumper bonuses expected
LONDON -- Forex bonuses in the new year look set to outstrip 2002 payouts by up to 40%, traders and recruiters told FX Week .
StanChart continues FX build-up in Africa
LUSAKA -- Standard Chartered sold its first Zambian kwacha FX options in October, as part of its continued forex build-up in Africa, senior officials told FX Week .
Yen and the art of market cycle maintenance
The yen resurgence that began this summer is still in play. But with the Japanese authorities still sporadically intervening in the currency markets, this upward path may meet some sharp setbacks. Simon Derrick, head of Bank of New York's currency…
A strengthening yen is no barrier to Japan's exporters
A stronger yen isn't proving to be the disaster for Japanese exporters that many predicted. Tohru Sasaki, chief FX strategist at JP Morgan Chase Bank in Tokyo, looks at why a strengthening Japanese currency doesn't necessarily mean decreasing revenues…
Hedging Taiwan dollar risk
Exporters exposed to movements in the Taiwan dollar must hedge by using the non-deliverable forwards market. Michael Image, FX options structurer for northeast Asia at Standard Chartered Bank in Hong Kong, suggests a zero upfront premium solution, which…
Managing sterling risks
Trading cable or euro/sterling off fundamentals is fraught with risk because they are primarily driven by trends in euro/dollar, says Steven Englander, Barclays Capital’s New York-based chief FX strategist for the Americas. But a properly constructed…
New era dawns for FX data
NEW YORK -- A new era in FX data is on its way, as the continuous-linked settlement service (CLS) for forex prepares to sell its market data back to users early next year.
Ringgit peg set to hold firm
KUALA LUMPUR -- Malaysia’s new prime minister, Abdullah Badawi, is set to maintain the ringgit’s peg to the US dollar for at least 12 months, according to market participants in the Asia-Pacific. Badawi assumed leadership of the Malaysian government in…
