Central Banks
Market eyes fresh dollar falls
LONDON -- Forex market analysts and traders are predicting fresh falls for the dollar in the coming months after euro/dollar hit successive record highs last week.
Trichet unlikely to ring changes
FRANKFURT -- There are unlikely to be any major policy changes at the European Central Bank (ECB) following Jean-Claude Trichet’s introduction as president last week.
Yuan’s US dollar peg to stay despite speculation
Beijing – Speculation that China may relax the yuan’s US dollar peg refuses to go away. Following media reports in June of US Treasury Secretary Jon Snow saying the Chinese government is considering widening the yuan’s trading band, the rumour mill is…
Dealing with yen downside risk
A collapse in the dollar/yen could offer significant trading benefits. How should an FX trader deal with the downside risk? By John Taylor, chairman of FX Concepts in New York
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
Dollar still top currency for central banks
LONDON – Market speculation that central banks began rebalancing their reserves away from the dollar last year was misled, according to the Bank for International Settlements’ (BIS) annual report released last week.
Cheap volatility brings yen opportunities
Japanese economic growth has outstripped many western economies over the past year, and the next currency breakout in the FX markets could be yen strength. Alex Schumann and Trevor Nathan, of Commonwealth Bank of Australia in Sydney, show how investors…
Bank of Japan intervention set to continue
TOKYO – Japanese authorities spent over $20 billion in the forex markets in Q1 this year, in an effort to ease the yen’s strength against the dollar and the euro.
Market rounds on dollar as US doubts gather
NEW YORK -- The dollar sagged to a four-year low against the euro last week, and fell across the board.
Dollar consolidation brings FX manager joy
STAMFORD, CT -- A temporary halt in the US dollar’s downtrend helped 60% of currency managers on the Parker FX Index maintain positive returns in February. But returns were limited -- the index was up just 0.16% for the month.
Bush war stance sinks dollar
NEW YORK -- The US dollar slid to a four-year low against the euro last week, as US president George Bush’s stance over Iraq continued to harden.
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.
CLS settles a trillion a day
NEW YORK -- Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
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.
RBA unwinds Australian dollar holding
SYDNEY -- The Reserve Bank of Australia took profits on its Australian dollar holdings earlier this year, selling nearly A$500 million, according to the bank’s February bulletin.
GFI closes FX options mark-to-market gap
NEW YORK -- Solving the problem of marking FX options to market came a step closer to being resolved last week, with the launch of a new ‘revaluation fixing’ service from New York-based interdealer broker GFI.
Blix report boosts dollar
NEW YORK -- The US dollar rallied slightly in the wake of United Nations chief weapons inspector Hans Blix’s report on Iraq late last Friday.
Analysts mull Iraq FX fallout
LONDON -- With geopolitical tensions continuing to dominate FX markets, analysts are now looking beyond any potential conflict at the possible fallout and its impact on currencies.
Intervention risk looms
LONDON -- As the US prepares to invade Iraq, FX dealers could soon be facing their own battle against central banks.
Busy year ahead for FX committees
LONDON -- The forex committees of the eurozone, US and UK’s central banks will have a full agenda this year, senior officials told FX Week .
Dollar routed again as war looms
NEW YORK -- The dollar was roundly routed last week as tensions between the US and Iraq were ratcheted up a notch.