As the Fed prepares for rate hikes, the hope is that the ECB stands ready to take over its mantle as chief global liquidity provider, raising the spectre of the euro becoming a more attractive funding currency for carry strategies.

Market players are hoping Draghi can overcome liquidity and scale challenges in his much-trumpeted ABS purchase plan – seen by some as QE by another name – but if he fails the central bank will have no option but to resort to QE, say analysts.

The Brazilian real has been rising in recent weeks on hopes opposition candidate Marina Silva will beat president Dilma Rousseff in a run-off election in October. With the Brazilian economy faltering and the election outcome still on a knife edge, the real’s outlook – and the country’s macro framework, more generally – remains unclear.

Analysts are divided over the outlook for the euro and the likely potency of the ECB latest monetary-easing measures, after Thursday’s meeting that saw the central bank cutting rates and announcing the October launch of an ABS purchasing programme. While the measures will buoy credit at the front-end, the jury is out on full-scale QE in the coming months.

This summer has seen a long-term bull market for the New Zealand dollar finally taper off as carry traders cash out of the Kiwi.

Despite the volatility in its price and its still-limited practical use, an increase in the number of merchants accepting Bitcoin in recent months has ignited optimism among digital-currency proponents.

The CureCoin Forum has teamed up with Stanford University to launch a new ethical cryptocurrency that aims to find cures for common, life-threatening illnesses, such as cancer and Alzheimer’s, by bringing together science and the craze for cryptocurrencies.

CPI inflation fell into negative territory in July, and the market expects the Polish monetary authority to cut rates, but currency concerns, relatively buoyant growth and supply-side drivers of disinflation argue for caution.

Bulgaria’s ambition to join the euro is slipping further out of reach as the bank run on its fourth-largest lender Corporate Commercial Bank (KTB) brings allegations of corruption and political instability to the fore and further diminishes the country’s standing in Brussels, say analysts.

Euromoney Research Group presents a detailed report into the swap execution facilities (SEFs) sector. The bespoke content offers insight into the confusion over the adoption of these rules and looks at the future opportunities for all market participants.

Bets of a re-peg of the Hong Kong dollar have resurfaced in the currency markets as the Hong Kong Monetary Authority (HKMA) intervened to inject dollar liquidity to the tune of $9.86 billion several times since July 1 on the back of large inflows into Hong Kong during the past few months.

Japan’s Q2 contraction, thanks to the April sales tax, has exacted a short-term toll on output, but Abenomics – a policy of delivering inflation and shocking the economy into growth – is still on track, say economists.

While the ECB is preparing the market for softer monetary conditions, the Federal Reserve is gradually tapering its quantitative-easing programme and the market expects rate hikes to commence from Q3 2015. However, falling US real rates will complicate Draghi’s bid to weaken the euro.

Emerging market (EM) currencies are behaving more like G10 currencies, at least in terms of the way they respond to changes in US rates, according to research by Nomura.

SuperDerivatives has gone live with a new trading platform to trade exotic foreign-exchange options electronically, and plans to expand the number of tradable asset classes from metals and FX to include oil, equity derivatives, credit and interest rates.

When Scott O’Malia approved the final swap execution facility (SEF) rules in August 2013, he did so “reluctantly”. His fears were realized when the regime quickly wrought international havoc. In one of his last interviews before leaving the US Commodity Futures Trading Commission (CFTC), he relives the ordeal of bringing these rules to market and highlights many of the challenges still to come.

The foreign-exchange benchmark scandal looks set to be a boon for burgeoning peer-to-peer (P2P) currency-exchange platforms, as they capitalize on the demand for transparent and innovative solutions.

Forced conversion planned for autumn; bill could top €4 billion, say analysts.

High relative rates draw investors; elections weigh on rally.

The Fidesz government has the mandate to convert Hungary’s entire stock of FX retail loans. But that might not be the end of the battle for bankers.

The Russian rouble is facing strong headwinds as the political fall-out over the fatal MH17 plane crash and fresh economic sanctions bite, with analysts predicting a tough year ahead for the Bric currency.

Morgan Stanley has given traders contemplating their summer holidays further cause to smile by predicting that an uptick in FX volatility might be around the corner.

CFTC commissioner admits data collection ‘poor’; calls for better cross-border cooperation.

Global regulator the Financial Stability Board (FSB) has published its proposals on how to restore the integrity of foreign-exchange rate benchmarks in the wake of alleged market malpractice, but market participants argue these simply mask deeper structural problems in the industry.

Treasurers and banks are divided on the extent to which financial-system liberalization in China has made it possible, or desirable, for multinationals to manage China treasury functions from elsewhere in Asia.

Volume on EBS Direct has increased by 70% month-on-month since its launch in November, as volume on EBS Market has fallen to record lows this year, with a management reshuffle unveiled last week.

In the short-term, foreign-market players have little incentive to access the exchange-traded currency futures market, despite liberalization efforts from regulators, given the liquidity provided by the OTC market, say market players. However, in the medium- to long-term, India’s bid to develop an onshore currency futures market looks promising.

Debate rages whether current accounts drive FX moves in developed markets or whether it’s a case of correlation, rather than causation.

Debate rages whether current accounts drive FX moves in developed markets or whether it’s a case of correlation, rather than causation.

Exchange-traded product (ETP) provider ETF Securities launches its first range of currency basket ETPs in Europe on the Deutsche Boerse this week, as European investors become more familiar with the asset class and providers concoct increasingly sophisticated products.