UBS retains top spot in FX Week awards

Local players dominate outside G3 New additions were made to the currencies section of the survey this year, with questions polling respondents on the best dealers for Australian dollar, Canadian dollar and Scandinavian currencies.

Notably, in these areas, domestic banks stood out as the dominant players. ANZ was voted best bank in Australian dollar, and with one exception – Citigroup – the rest of the top-five were Australian banks. It was the same story for the Canadian dollar, with Royal Bank of Canada taking the top spot, and Citi again standing out as the only top-five non-Canadian. For Scandinavian currencies, the trend was even more marked, with SEB in first place, followed by Danske Bank, Nordea Group, Svenska Handelsbanken and DnB Norbank.

Seppo Leskinen, head of FX at SEB in London said that clients rate the country focus that Nordic banks have, in a region, which has traditionally had volatile currencies.

This expertise has been particularly needed this year, with increasing interest in the Swedish krone following the no vote in the euro referendum in September.