Asset Managers Appeal for End to FX “Last Look” Practice – Reuters
Banks should not be allowed a last chance to reject deals on foreign exchange platforms, the main UK body representing UK asset managers said on Tuesday.
FXPA Elections for First Permanent Board Set for Feb 10
The Foreign Exchange Professionals Association (FXPA) will hold elections for its first permanent Board of Directors and Officers on Feb 10. FXPA, which launched Sept 25, 2014, now has 18 members representing the diversity of participants in the institutional FX market. To find out how you can support the FX industry through education, research and advocacy, visit our website at www.fxpa.wpengine.com, become an institutional member, and sign up for our newsletter, FXPA globalFXsource.
EBS Currency Trading Volumes Soar in Volatile January – Reuters
Foreign exchange spot volumes on the EBS platform rose 48% in January compared with the same month last year, averaging the equivalent of $130 billion a day.
‘Currency war’ to be ‘lose-lose’ game: Strategist – CNBC
With each fresh headline of a central bank cutting interest rates comes rising concerns over the global race to the bottom. The result is that the world is heading toward a global currency war that Bank of America Merrill Lynch strategist David Woo said ultimately will have no winners.
BBA Backs Calls for ‘Licence to Trade’ After City Scandals – Financial Times (subscription)
The main lobbying group for British banks has said that all financial market traders should be required to gain professional qualifications in an attempt to avoid having a much tougher licensing regime imposed on the industry.
Denmark Increases Krone Sales to Protect Peg – Wall Street Journal (subscription)
Denmark’s central bank says it sold Danish kroner in record amounts in January to weaken the currency and protect its peg against a falling euro.
Dollar Recovers After Posting Largest Fall in More Than a Year – Reuters
The dollar index rebounded on Wednesday, after suffering its biggest one-day fall in over a year, helped by a jump in Treasury yields and expectations for upbeat US economic data later in the day.
Greece and the Euro Crisis: An Odd View of Democracy – The Economist (subscription)
Yes, the Greek voters have given their opinion but what about voters in other democracies? German voters, when polled, seem pretty clear that they don’t want Greece to be given debt forgiveness.