Trading
Who wins from yuan revaluation?
With a potential yuan revaluation looming, Adam Cole, senior currency strategist at Royal Bank of Canada in London, analyses the impact on the G10 FX markets.
Commerzbank "exits London"
LONDON – Commerzbank is to close its trading and sales forex operations in London.
UBS holds onto pole position
LONDON – UBS is the top-rated bank in FX, according to the 1400 voters in FX Week's 10th annual survey of the market.
Slow start for India's retail FX market
MUMBAI – Nine months after retail investors were given the de facto go-ahead to start forex trading overseas, volumes have been subdued, say analysts.
Dollar to fall after G20 summit?
The G20 summit on Saturday could presage another drop in the dollar against the euro, according to forecasters on the FX Week Currency Forecasts Index, speaking last week.
Protecting against losses while making gains
Given the rapid, one-way move in the Canadian dollar (CAD), many hedgers who are short CAD are looking for innovative hedging ideas. John McAuliffe, manager, US FX options sales at the Bank of Montreal in Chicago, suggests some options
UBS holds onto pole position
LONDON – UBS is the top-rated bank in FX, according to the 1400 voters in FX Week's 10th annual survey of the market.
Sea-change in EUR/USD views
The lifetime high in euro/dollar last week – breaking through 1.30 briefly on Wednesday (November 10) – has prompted most contributors on the FX Week Currency Forecasts Index to revise their euro/dollar forecasts upwards.
Bayer Group's two-year plan pays off
LEVERKUSEN – As the dollar continues its slide versus all major currencies – it has lost 8% of its value against the euro in the past two months and 9% against the Swiss franc – corporates are struggling to readjust their hedging strategies.
Concerted intervention ruled out
FRANKFURT – Despite increasingly vigorous comments from European politicians arguing in favour of stemming the onward rise of the euro, concerted intervention from Europe and the US is extremely unlikely.
Non-US airlines profit from low-flying dollar
NEW YORK – The weak dollar is giving airlines outside the US some relief from the impact of high fuel costs, according to their latest financial results.
Banks review yuan reval forecasts
BEIJING – Some bank analysts have brought forward their expectations of regime change in the Chinese yuan, following the rate hike by the People's Bank of China late last month.
The American-style participating forward
Clients wishing to trade at a pre-specified strike rate during a certain window period, should consider the American-style participating forward, say Bank of America options specialists Jim Kamphoefner in San Francisco and Ravi Chopra in Singapore
FX – the odd man out
The currency market is decoupling from other markets. This is not sustainable, says David Woo, head of FX strategy at Barclays Capital in London
Spotlight on Japan's yen policy
With the focus on the US, little attention has been paid to Japan. Jake Moore, FX analyst at Barclays Capital in London, examines the MoF's likely actions now the US election is over
Window barrier for a Canadian manufacturer
Canadian manufacturers are looking for innovative hedging ideas in an increasingly bleak exporting environment. Richard Stang, an FX sales dealer at TD Bank Financial Group in Toronto, suggests one potential solution
Investors invited to scale up overlay in Asia
HONG KONG – Investors in Asia could scale up the returns they are currently getting from FX overlay by investing in hedge funds, delegates at the ABN Amro Asia currency conference heard last week.
Bush win prompts dollar sell-off
NEW YORK – The re-election of President George W. Bush last week prompted a dollar sell-off, sending the euro to an all-time high just below 1.30 by close of trading on Friday (November 5).
Saxo and ANZ pick dollar lows
The dollar sank to record lows last week – nearly touching its all-time low just above 1.29 against the euro on Friday (November 5) and an eight-year low of 1.1877 against the Swiss franc the day before.
New retail laws spark alarm in Japan
TOKYO – A debate is raging in Tokyo over the impact new retail FX trading laws will have on the developing market.
The US election effect
How will the US election affect the FX markets? Alan Ruskin, New York-based research director, 4Cast, reveals the results of his company's recent survey
China rate hikes boost FX volatility
CHINA – Volatility in global FX has surged amid speculation that the first rate hike by the People's Bank of China (PBOC) in almost a decade could spark a sooner-than-expected yuan revaluation, according to analysts.
ABN Amro revises forecasts
ABN Amro is among the banks revising currency forecasts in response to an increasingly bearish outlook for the dollar.
Funds repatriation bill set to pass
NEW YORK – A bill offering US companies the chance to repatriate overseas earnings at a hugely discounted tax rate is set to be signed into law in the next week – much sooner than previous estimates, said analysts.