Trading
Look to NZ for opportunities
Geoff Kendrick, currency strategist at Westpac, is focusing on the New Zealand dollar (NZD) this week
Solid potential for portals
NEW YORK – There is room for all existing multi-dealer platforms in the FX space, according to a report that counters the perception that there will be further casualties in this area.
Bullish dollar view pays off
Investors Bank & Trust tops the year-to-date one-month index after increasing its focus on economic fundamentals which led to a more bullish view on the dollar, said Tim Mazanec, senior FX strategist at the bank in Boston.
Waiting for a won u-turn
After the recent declaration that the Bank of Korea intends to employ a policy of currency diversification in its reserve holdings, the won performed strongly. Here, Bhanu Baweja, FX strategist at UBS in Singapore, looks at what could trigger a u-turn
Rabobank finds the winning formula in dollar correction
Rabobank tops both the one month and one month year-to-date forecasts this week after changing its dollar view at the end of last year, said Stuart Ritson, FX strategist at the bank in London.
FXall grows to meet asset manager demand
BOSTON -- FXall has opened an office in Boston with the appointment of a team of two to drive institutional sales in the city.
Cutting the cost of dollar calls
With the USD having hit its lowest levels since the first half of January, Steven Englander, chief FX strategist for the Americas at Barclays Capital, suggests a cost-effective way to position for a dollar rebound
European banks get boost in Q4
ZURICH -- European banks were back in the black by the end of 2004 after tough market conditions in the third quarter brought about dire results for foreign exchange.
Asia to set up Bellagio Group
BANGKOK -- Asian nations are looking to set up a group that will bring greater regional co-operation.
China prepares for currency flexibilit
HONG KONG -- Chinese authorities are making further preparations towards a more flexible currency with new rules aimed at minimising an appreciation in the renminbi, say analysts.
CFTC shuts down forex boiler operation
WASHINGTON, DC -- US authorities have frozen the assets of six firms and arrested four of their employees after the Commodity Futures Trading Commission (CFTC) charged them with fraud last week.
Deutsche quits EBS Prime
LONDON -- Deutsche Bank is pulling out of EBS Prime due to a lack of economic benefit it has seen from being on the platform.
Making the most of fresh yen strength
A fresh bout of yen strength may be imminent. Simon Derrick, head of Bank of New York’s currency strategy team, describes a simple, low-cost strategy for currency overlay managers looking to take advantage of the latest moves
Legal standards for FX prime brokers
NEW YORK -- Legal standards for documentation between foreign exchange prime brokers and their dealers will be introduced next month.
Reuters & Bloomberg target buy side
NEW YORK -- Bloomberg and Reuters are going head to head in a bid to target the burgeoning buy-side market, with forex transactional capabilities being launched by both global information providers.
Dollar rebound won’t last
Less support for US currency as year goes on, says Jeff Young, head of FX strategy at Citigroup in New York
Correction forecasting wins out
Danske Bank’s rise to the top of the one month year-to-date rankings follows a revision of its forecasts in late 2004, said Niels From, senior FX strategist at the bank in Copenhagen.
Aussies loosen FX regulations
SYDNEY -- Australian authorities have amended regulations to make it easier for foreign exchange businesses to operate in the country. The Australian Securities and Investments Commission (Asic) has extended the scope of those exempt from holding an…
Multibank platforms ‘to consolidate’
LONDON -- The multibank platform space is set for further rationalisation following the demise of Centradia, according to market participants.
Regional FX investments take off
LONDON -- Sales of investments linked to baskets of regional currencies have taken off as investors search for yields from broad macro themes in Asia and central Europe.
HVB climbs through the ranks
HypoVereinsbank (HVB) has steadily climbed the rankings since the start of 2005 to top the one-month ranking.
AUD/USD hedge for an uncertain outlook
With an uncertain short-term prognosis for the AUD/USD, Sara Sullivan, senior manager, financial engineering at ANZ Bank in London, explains a structure that offers downside protection against a stronger Aussie while allowing unlimited upside potential…
Expect nasty surprises
Michael Klawitter, senior currency strategist for West LB, believes the US current account deficit will remain a problem
Plug pulled at Centradia
LONDON -- European multibank portal Centradia has closed for business.