FXPA Elections for First Permanent Board Set for 10 Feb
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.org, become an institutional member, and sign up for our newsletter, FXPA globalFXsource.
Dollar Edges up Before US Jobs, Wages Data – Reuters
The dollar edged up against a basket of currencies on Friday as investors looked to US jobs and wages data later in the day for further clues as to when the Federal Reserve might raise interest rates.
SNB’s Foreign Currency Reserves Hold Steady Amid Cap Exit – Bloomberg
The Swiss National Bank’s holdings of foreign currency increased just 0.7% last month, with a stronger franc potentially offsetting a further accumulation of euros due to interventions.
Danish Central Bank Fiercely Defends Currency Peg – Financial Times (subscription)
Denmark’s central bank governor pledged to face down speculators testing its currency peg to the euro, saying he would do “whatever it takes” to defend it.
Ukraine’s Hryvnia Plunges After Rate Rise – Wall Street Journal (subscription)
Ukraine’s hryvnia plunged Thursday after the country’s central bank raised interest rates and moved toward a free-floating exchange rate.
FIA Offers Guidelines for Swaps Clearing – FOW Magazine (subscription)
Trade body, the Futures Industry Association, has published a set of recommendations aimed at increasing efficiency in clearing over-the-counter derivatives.
Computer-Driven, Automatic Trading Strategies Score Big – Wall Street Journal (subscription)
Recent market volatility caught many investors flat-footed. Among the few winners were traders who let a computer be their guide. Hedge fund managers who employ complicated, automatic-trading strategies made millions off the wild swings in currency and commodity markets in recent weeks, investors say.