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Join FXPA at FIA Boca
Attending FIA Boca next week? Please join the membership of the Foreign Exchange Professionals Association (FXPA) for a Meet & Greet session at the FIA Boca conference. Representatives from the FXPA will be in the Lounge Area adjacent to Bar Luna from 5:30-6:30 on Tuesday, 10 March. Please rsvp to jros@profit-loss.com
Dollar Revs Up for Jobs Data, Euro Bonds Rally on ECB – Reuters
The dollar hit a new 11-year high against major currencies on Friday as investors bet the monthly US jobs report would add to the chance of rate hikes, even as the European Central Bank embarks on a 1 trillion euro campaign of bond-buying.
Turkey’s Dangerous Game Risks Financial Chaos – CNBC
The Turkish government is playing a dangerous political game that risks hitting the country with a full-blown currency crisis and ratings downgrade, experts warn.
UK’s SFO Investigating Bank of England Auctions – Profit & Loss (subscription)
The period under investigation starts with the Bank of England bailout of Northern Rock in 2007 and continues through the Lehman Brothers’ failure and banking liquidity crisis. Although the authorities have declined to elaborate on the nature of the investigation, Profit & Loss understands it is keying on bids made to the Bank of England by bank traders during funding auctions.
SNB Says Repeal of Currency Cap Could Hit Its Performance – Wall Street Journal (subscription)
Switzerland’s central bank Friday warned its repeal of a cap on the country’s currency and market volatility could threaten its performance this year, jeopardising customary payments to the federal and regional governments, as it confirmed it had swung to a profit in 2014.
Nowhere but down? Euro reacts to QE – CNBC
With the European Central Bank about to launch its 1 trillion euro ($1.1 trillion) bond-buying program on Monday, foreign exchange experts are already preparing to readjust their forecasts for the single currency.
Sterling at 7-Year High Vs Struggling Euro, Weak Against Dollar – Reuters
Sterling hit a more than seven-year high against the struggling euro on Friday, as interest rate differentials moved in favour of the British pound with the European Central Bank gearing up to launch its 1-trillion euro bond buying programme
FX Vol Threatens Portfolio Returns – Euromoney
Volatile currency markets in 2015 threaten to erode international investors’ portfolio returns on traditional equities and bonds, highlighting the need for a strong hedging strategy, advise market participants.
RMB Depreciation Expectations Shift Trading Strategies – Euromoney
As China gradually loosens its grip on its FX regime, an ostensibly overvalued RMB is expected to fall back in line with global currencies, presenting a range of opportunities for traders, ranging from USD/CNH spot positions and the options market, to punts on the CNY-CNH differential.
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