Trading
Dresdner hits top with deadly accuracy
Dresdner Kleinwort tops the one- and 12-month forecast rankings this week, with a view that the US dollar was bottoming out, while the UK economy was slowing.
Choosing the right carry strategy
Nikki Marmery reports on the proliferation of carry trade indexes and outlines the key differences between the main banks' offerings
Saxo Bank adds JP Morgan to its prime broker list
COPENHAGEN - Saxo Bank is using US bank JP Morgan as its prime broker to trade anonymously over electronic spot foreign exchange trading system, Reuters Spot Matching.
Merrill's defensive play proves profitable
LONDON - A forecasted market retreat into the safe havens of the yen and the Swiss franc has taken Merrill Lynch to the top of FX Week 's three-month rankings this week.
Fed cuts may lead to Qatari de-peg
DOHA & LONDON - Two Federal Reserve rate cuts totalling 1.25% to 3% in the past two weeks have raised speculation that the Qatari riyal's dollar peg might be about to break.
Icap speeds up price info on EBS
LONDON - Interdealer broker Icap has cut latency on spot-broking system EBS Spot and market data service EBS Live, according to a letter to EBS Prime bank customers seen by FX Week .
Strong yen and franc boost Lehman to top
LONDON - A big-picture outlook for the yen and Swiss franc took Lehman Brothers to the top both of the one-month and three-month currency forecast rankings this week.
SWFs under pressure to disclose
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, looks at why the issue of sovereign wealth fund transparency is such a heated one
Seeking a sterling collapse
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
Carrying a mixed bag
Analysts polled by FX Week reveal an industry split on the sustainability of resurging risk appetite and the future of yen-based carry trades. Compiled by Wendy Mock
Platforms see record trading in volatile markets
LONDON - Interdealer broker Icap and the Chicago Mercantile Exchange (CME) posted record trading volumes last Tuesday (Jan 22), amid an upswing in market volatility.
Reduced growth will fuel FX competition
As the market gears up for a fresh year of activity, Patrick Lefler, FX consultant at Wall Street Systems, predicts the key FX market developments in 2008
FX adds shine to banks' Q4 results
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.
UK pension funds face cashflow crisis
LONDON - A predicted GBP downturn means pension funds in the UK need to be prepared to pay out "real money" on losses from passive currency hedges on their overseas investments, warned currency managers.
Yen stands strong
Philip Brass, global head of CitiFX flows in London, predicts a prolonged period of yen strength as holders of short yen positions change their investment strategies
CFTC stays quiet on forex scam
WASHINGTON DC - The United States Commodity Futures Trading Commission (CFTC) said it could neither "confirm nor deny" the existence of an investigation by its offices into a US man who allegedly defrauded investors millions of dollars.
Informa wins with weak-dollar view
Informa Global Markets topped this week's one-month forecast rankings by maintaining a longstanding view of US dollar weakness versus the euro and yen.
UBS wins A&L's options outsourcing
LEICESTER - Alliance & Leicester (A&L) has contracted UBS to provide foreign exchange options technology to the UK bank.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
FX market goes back to fundamentals
LONDON - A correction in overvalued currencies and risk aversion will promote strategies based on economic factors and real value this year, say analysts.
Dah Sing Bank deploys Fenics FX
HONG KONG - Dah Sing Bank has begun using foreign exchange options pricing and risk management system Fenics FX, developed by interdealer broker GFI, at its Hong Kong-based treasury department.
EUR/USD correction puts BNP on top
BNP Paribas topped this week's three-month forecast rankings by predicting a correction in EUR/USD, led by US dollar weakness.
Coming on strong
Lydia Kranner, analyst at RZB in Vienna, evaluates the prospect of Chinese yuan appreciation in 2008
The final frontier
Win Thin, senior currency strategist at Brown Brothers Harriman & Co in New York, evaluates the investment prospects for the frontier markets