|D-Day for Euro as Market Awaits ECB Quantitative Easing – Reuters
The euro held fast more than a cent above 11-year lows ahead of a European Central Bank policy meeting on Thursday widely expected to embark on the outright money-printing the bank has steadfastly avoided, in contrast to its peers.
FX Crisis Forcing Banking Surveillance Re-Think – Profit & Loss (free story)
Banks are being forced into a major reassessment of how they monitor and survey human communications following the recent regulatory investigations into FX market manipulation.
Experts Predict Change Amid $10 Billion FX Losses From CHF Moves – Profit & Loss (subscription)
The unexpected volatility in Swiss franc witnessed last week raises fundamental questions about liquidity and pricing in the FX market, while industry losses could total over $10 billion, said speakers in a special Profit & Loss webinar on Tuesday.
CLS: Swiss Franc Shock Drove FX Trade to Record High – Reuters
Foreign exchange markets saw their biggest ever day by number of deals after Switzerland’s shock removal of its cap on the Swiss franc last week, the chief executive of settlement company CLS told Reuters on Wednesday.
Firms are Revising Client Rules to Guard Against Next ‘Swiss Shock’ –Bloomberg
Financial firms stung by last week’s surge in the Swiss franc are changing client rules and trading practices to weather future currency swings.
UK Lawmakers Criticise Report on Central Bank Handling of Scandal – WallStreet Journal (subscription)
British parliamentarians clashed on Wednesday with the author of an independent report into the Bank of England’s handling of a foreign exchange scandal, saying the report watered down the role of a former senior BOE official.
Market Looks to EUR/CHF Parity in Short Term – Profit & Loss (subscription)
The market is targeting a wide band around parity for EUR/CHF, according to a recent survey by Societe Generale. However, a very large proportion of respondents refuse to reveal their trading strategy.
China’s Forex Regulator Watching Volatile Capital Flows – Reuters
China is closely monitoring its cross-border capital flows, the foreign exchange regulator said on Thursday, amid signs that money is leaving the world’s second-largest economy as it slows.
FXPA News: Join by 1 Feb to Qualify for Time-Limited Membership Category
The special founding member category of the Foreign Exchange Professionals Association (FXPA) will close on 1 February. Join today to be part of the first wave of founding members that enjoy the distinct benefits that this class offers. FXPA recently crossed the critical threshold of 15 members, triggering elections for the first permanent Board of Directors and Officers. FXPA’s Board will include 50% representation by Founding Members that join prior to the 1 February deadline.