Trading
China stands firm on peg
BEIJING -- China will continue to stand firm in the face of increasing international pressure to relax the yuan’s peg to the US dollar, analysts in the Asia-Pacific told FX Week .
Italians step up FX use
ROME -- Italian corporates have increased their derivatives use over the past 12 months as companies have honed their risk management skills to battle against currency volatility.
Appraising a decade of EBS
Forex market reflects on 10 years of the electronic broking duopoly LONDON -- On the tenth anniversary of the launch of EBS onto traders’ screens, the FX market has altered almost unrecognisably.
Banks failing SMEs on hedging
LONDON -- More than half of UK businesses with exposure to currency transactions totalling £20 million per year are failing to hedge their exposure, according to research produced by currency services firm Travelex in the UK. The lack of protection is…
UBS triumphs in currency derivatives
ZURICH -- UBS triumphed again in this year’s currency derivatives categories in FX Week ’s sister publication Risk magazine’s global derivatives rankings.
Asian currencies set to outperform
Asia is heading for a period of sustained growth. And with high US budget and current account deficits, the region is likely to replace the US for leading global economic growth, says Hans Redeker, global head of currency strategy at BNP Paribas in London
NZ dollar to strengthen
WELLINGTON -- The New Zealand dollar is set to strengthen against the greenback to at least 60 US cents by the end of the year, according to market participants in the Asia-Pacific.
The hedge that lets you ride the wave
David Faller, Chicago-based head of FX options at BMO Financial Group in Chicago, and Evan Steed, FX options trader in Toronto, suggest a cost-effective hedging strategy to enable a Canadian exporter to fully hedge 12 months of equal US dollar…
HSBC cuts in emerging FX
LONDON -- UK-based bank HSBC has cut about 10 European emerging markets positions in London, as part of a decision to move the management of those currencies back to their local centres, a senior official told FX Week .
Aussie’s halcyon days are not over
The Australian dollar’s strong rise in the first half of the year may have fallen off, but that does not mean its best performance is behind it, says Michael Jansen, market strategist at National Australia Bank in Sydney
India’s central bank governor to continue rupee intervention
MUMBAI -- The new governor of the Reserve Bank of India (RBI) is expected to maintain current exchange rate policies, which will cause the Indian rupee to continue its steady rise against the dollar, analysts told FX Week .
ACI Beirut Congress: exhibition preview
BEIRUT -- Between the challenging seminar programme and the exhaustive social schedule planned by hosts of the 43rd ACI World Congress this week, the 600+ delegates will get a chance to sample product demonstrations and promotions at the exhibition.
Forward hedge overlay for euro
A Middle Eastern importer could change its risk profile by overlaying its forward hedges, says Charlie Brown, head of structuring and solutions at Standard Chartered in London. By pairing euro puts at lower levels with euro calls, the importer can assure…
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
All eyes on the Middle East
Growing interest in Islamic banking, new technological developments and a wave of freshly repatriated money have put forex trading in the Middle East on the cusp of an exciting new era, reports Nikki Marmery
EBS sterling push prospers
LONDON -- EBS’s recently launched sterling package has resulted in a 30% increase in new counterparties to the system, an official at the spot broker in London told FX Week.
Changing seasons
Summer volatility in a number of emerging markets is not unusual. Indeed, in the currencies of central and eastern Europe (CEE) it is the rule rather than the exception, says Callum Henderson, head of emerging markets research at Bank of America (BoA) in…