Trading
The fog of war
What should you do when near-term uncertainties cloud the FX outlook? Concentrate on the medium term and rely on the fundamentals, say Yianos Kontopoulos (right) and Marcel Kasumovich, FX strategists at Merrill Lynch in New York
White-label trend takes root
LONDON -- The liquidity outsourcing industry is reaching a crucial stage in its development, according to bankers, vendors and analysts polled by FX Week .
Manila clamps down on ‘dollar hoarders’
MANILA -- Bangko Sentral ng Pilipinas, the Philippines central bank, last week imposed monetary and non-monetary sanctions on eight banks for violating FX laws.
White-label trend takes root
LONDON -- The liquidity outsourcing industry is reaching a crucial stage in its development, according to bankers, vendors and analysts polled by FX Week .
Aussie calls offer no worries hedge
Sara Sullivan, senior manager, FX options sales at ANZ Investment Bank in London, summarises an options solution for a corporate client concerned about a reversal of the AUD strength against the USD.
Further uncertainty grips market
LONDON -- FX markets breathed a sigh of relief last week as the war in Iraq got under way, but as one source of uncertainty was removed, another popped up.
War and the dollar
Near-term dollar direction will now depend on the length and ‘success’ of the war. But those factors are far from certain, says Jake Moore, FX strategist at Barclays Capital in Tokyo.
Dollar bloc upsurge boosts Australian forex turnover
SYDNEY -- Increasing interest in Australian dollar trading is boosting Australian banks’ forex turnover, senior market participants told FX Week .
ECB highlights dangers of over-concentrated market
FRANKFURT -- Market consolidation and a reliance on electronic trading could lead to an over-concentration of risk and liquidity among too few market participants, the European Central Bank has warned.
Rumours hit jumpy FX markets
LONDON -- FX markets starved of certainty saw some price movement last week, mostly on the back of unconfirmed rumours regarding the war in Iraq.
Sterling caught in the middle
The relationship between sterling/dollar and euro/dollar has broken down since the start of the year, resulting in sterling’s recent under-performance, says Lena Komileva (right), EMEA economist at Prebon Marshall Yamane in London.
Tullett launches global Swapmarker
LONDON -- Tullett Financial Information, a subsidiary of brokerage firm Tullett, last week released a global version of Swapmarker, its capital markets data product.
Real-life problems, innovative solutions
Options for euro-sceptics
After feast comes famine for the dollar
The US dollar may have been feasting on inflowing money in recent years but, says Pete Luxton, global economic adviser at MMS International in London, it is now going hungry
RBS FiXes benchmarks with EBS
LONDON -- The Royal Bank of Scotland (RBS) has gone live with a new benchmark engine for spot and forwards FX rates, called RBSFiX.
Asian forex still untapped
SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX Week .
Rand reverses 2001 downtrend
JOHANNESBURG -- Interest rate yields, gold prices and a budget announcement powered the South African rand to a 20-month high against the dollar last week.
CME launches CME$Index futures contract
CHICAGO -- The Chicago Mercantile Exchange (CME) launches its new ‘CME$Index’ futures contract, an index of seven foreign currencies against the US dollar, today (March 3). The contract is intended to provide end-users with a broad tool to gain or reduce…
Bloc boosting
Rising commodity prices and high yields have boosted the ‘dollar bloc’ currencies, and the trend is set to continue, says David Mozina, head of G10 FX strategy at Banc of America Securities in New York
Trichet still best bet for ECB job
Jean-Claude Trichet’s trial is not an insurmountable obstacle to his accession to ECB presidency. But while the outcome is uncertain, French officials must come up with a back-up candidate, says Stephen Sandelius, Paris correspondent for Market News…
Traders reap rewards in LatAm markets
MEXICO CITY -- As clients and banks scour the globe for volatile FX markets, Latin America has become a key battleground for new FX business, senior market participants told FX Week .
Market static as uncertainty rules
LONDON -- There was little action in G3 FX last week, as the geopolitical stand-off over Iraq extended to the markets.