Currency
AUDIO: Is the European Monetary Union bound to fail?
Nick Beecroft, senior markets consultant at Saxo Bank in London, looks at the key developments in the unfolding sovereign debt crisis and the political will of the Union's architects.
Reserve managers diversify away from traditional currencies, report finds
Non-traditional currencies play an increasingly important role in central bank holdings as a result of eurozone sovereign debt concerns and ongoing economic weakness in developed markets, according to Central Banking Publications report
Hoornweg takes on new role at UBS after senior departures
Global head of FICC and head of securities both understood to have left the bank in February
Isda working group to draw up new, standardised CSA
Derivatives market set for shake-up as confusion over how to price multi-currency CSA trades drives a push towards a standardised collateral agreement
Audio: Dollar to win G-3 ugly contest
Nick Beecroft, senior markets consultant at Saxo Bank, predicts the US dollar will stage a comeback in 2011.
Danske Bank hires Cioffi and plans global build
Danske Bank has hired Raffaele Cioffi to its spot trading desk in Copenhagen and plans to expands its global presence.
SEB: Swiss franc will weaken
Scandinavian bank SEB topped this week's one-month currency forecast rankings with a focus on fundamental, technical and quantitative analysis.
Back to the future
Lutz Karpowitz, currency strategist at Commerzbank in Frankfurt, asks whether Hu Jintao is right in saying the current global currency system is a product of the past
Foreign exchange concerns prompt investors to seek diversification
People on the buy-side give their thoughts on the prospect of a currency war, as central banks grapple with the problem of how much to intervene in their FX markets
RBS targets US growth
Royal Bank of Scotland has topped this week's 12-month historical index by maintaining that the global recovery would not be derailed by intensifying problems in the eurozone periphery.
China tests further easing of renminbi convertibility of capital account
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renimibi conversion outside of currency restrictions
Bayer warns EC: Don’t force us to slash jobs in EU
Christian Held, head of corporate treasury at pharmaceutical giant Bayer, threatened to move jobs abroad unless the European Commission “lets common sense prevail” over FX derivatives regulation.
UBS: FX CCPs will be “too big to fail”
Foreign exchange central counterparties (CCPs) will automatically be “too big to fail” because the consequences of failure are too terrible, according to Huw Evans, managing director and chief operating officer of FX at UBS.
Thomson Reuters Dealing targets Sef and MTF compliance by Q4
Thomson Reuters aims to make the Thomson Reuters Dealing peer-to-peer conversational trading application compliant under swaps execution facility (Sef) and multi-lateral trading facility (MTF) rules by Q4, the vendor tells FX Week.
Brown returns to market at BBVA
HSBC veteran returns to market in key role for Spanish dealer
ParkerFX loses out in November
The Parker FX Index reported a –0.39% return for November as the risk-aversion based US dollar rally caught out the majority of currency managers.
Icap to launch decimalised pricing on majors in February
Interdealer broker Icap will launch decimalised pricing on major currency pairs on EBS Spot on February 14, the broker told FX Week.
Subterranean euro-sick blues
The sovereign debt crisis is not going away, and will drive much of the action in the first quarter at least, writes Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York
IMF takes final step in changing SDR basket
Fund sets exchange rate for SDR; continues to peg unit of account to yen, dollar, euro and sterling
Gain charts breakdown between inverse dollar and commodities correlations
Gain Capital topped this week’s one-month currency forecast rankings by viewing the US dollar as oversold in the run-up to the Federal Reserve’s announcement of a second round of quantitative easing (QE2) at the start of November.
Value strategy up in November
Currency managers employing the value strategy are likely to have been the only managers to have generated positive returns in November, as the US dollar posted strong gains across all currencies, indicates research from Royal Bank of Scotland.
The curious case of Pure FX
There’s been a lot in the press in the past week about a consortium of banks looking to launch a bank-only platform to rival EBS Spot, having become disgruntled by the influence lost to high-frequency traders.
BIS: 'Others' drive growth in FX market
The Bank for International Settlements (BIS) attributes 85% of the growth in FX market turnover in 2010 from 2007 to increased trading activity of other financial institutions, notably high-frequency traders, banks trading as clients of the biggest FX…