Opinion
The unitised managed assets solution
Packaging FX into a fund that retail investors can get easy access to is not straightforward, say Jan Vandendriessche, director, managed assets development, and Stephan Martinussen, senior manager, sales trading at Saxo Bank. They advocate setting up a…
Rough ride ahead for Asian FX
Asia FX is heading for a volatile course in the coming fortnight, with poor economic data and continuing uncertainty about renminbi revaluation, according to Claudio Piron, Asian FX strategist at JP Morgan in Singapore
Dollar weakness set to continue
Jim McCormick, global head of FX research at Lehman Brothers in London, sees short-term technical gains, but continued longer-term dollar weakness
Kissing with confidence is key to FX
Keep it structurally simple (Kiss), says Evan Steed, director FX options trading and sales TD Bank Financial Group. This truism is especially appropriate as the greenback faces an uncertain future and regulatory change comes to Canada
The greenback/HK dollar digital deposit
Hong Kong dollar interest rates remain suppressed. Michael Image, FX structurer for Northeast Asia at Standard Chartered shows a way for HK$ depositors to achieve higher interest rates by taking advantage of the fact that US$/HK$ forwards are trading at…
Speculative $/¥ selling discouraged
Ian Stannard, senior currency strategist at BNP Paribas in London, favours selling USD/JPY gains amid mounting political pressure
Intervention going out of fashion
Paul Meggyesi, vice-president, global currency strategist at JP Morgan Chase, points to a decreasing willingness for Asian central banks to intervene as a reason to expect further dollar weakening
Towards risk-free emerging markets investment
Pete Eggleston, head of quantative solutions at Royal Bank of Scotland (RBS), outlines a way of benefiting from the high yields associated with emerging market investing while controlling the inherent risk
Introducing FX into fixed-income portfolios
David Durrant, chief currency strategist for the Americas at Julius Baer Asset Management, says a simple use of cross trades exploiting different central banks’ positions in the economic cycle shows that it is not necessary to use exotic structures
Cable – getting nervous about $2?
Karen Griffith, chief currency analyst at Independent II Research, says technical and fundamental indicators point to sterling well above the $2 mark
Dollar weakening, but for how long?
Dollar weakness will continue into the first quarter of 2005 under current US policies, says Marios Maratheftis, economist at Standard Chartered Bank in London. But market volatility may change the Fed's stance
The American double-accrual forward
With expected further euro appreciation, EUR/USD forwards are trading at a premium. Here, Anna Leung, head of corporate treasury marketing at HSBC, shows a way to get access to future hedging at a lower cost
Dollar recovery set to continue
Dollar recovery is likely to continue this week as short-covering and profit-taking extend further, according to Mitul Kotecha, global head of FX research at Calyon, London
Conservative approach to further dollar weakness
A one-year 'leveraged ratchet forward' may help hedgers looking for a conservative strategy who are expecting a lower EUR/USD next year, say Eric Ohayon, European head of FX structuring, and Chris Weiss, FX structurer, at Bank of America in London
Soft knock-in knock-out forward
The soft knock-in knock-out forward presents a new way to look at knock-ins and knock-outs, taking away the negative impact of untimely barrier events says Enrico Ferrante, senior structurer at Calyon in Paris
Dollar to plummet further in 2005
Continued dollar weakness in 2005 will fuel European and Japanese currency strength and damage export demand, according to Tony Norfield, ABN Amro's global head of FX strategy in London
Will Asia dump the dollar?
The possibility of a dollar collapse must be taken seriously. The US's benign neglect is increasingly untenable, says Tim Clayton, analyst at market analysis firm Investica in London
Dynamic hedging strategies in Turkish lira
Emerging markets options offer the benefit of extreme differences in implied volatility and interest rate differentials. Here, James Davison, FX derivatives marketer at ABN Amro in London, outlines how corporate clients can see the benefits investors…
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.
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
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