Commerzbank has appointed a new global head of electronic FX sales, according to sources who spoke to EuromoneyFXNews.

Wary of another market meltdown, endowments and other hedge fund investors are demanding that managers pay closer attention to cash holdings. Besides buying U.S. Treasury bills and money market funds, hedge funds let cash management firms find safe places for their excess dollars.

The SFr1.20 floor should hold over the next three to six months but the longer-term outlook for EURCHF is bearish, says BCA Research, one of the world’s leading independent providers of global investment research.

Crédit Agricole says the renminbi is starting to behave like other Asian currencies, reversing a trend since the 2008 financial crisis that has seen its movement’s diverge from the rest of the region, writes Asiamoney, a sister publication of EuromoneyFXNews.

FTSE, the global index provider, and Cürex Group, an FX technology firm, have teamed up to create a tradable market for spot FX indices that will provide daily benchmarks to facilitate the growth of FX investment products.

The Swiss National Bank (SNB) has rejected the idea of creating a sovereign wealth fund to manage its burgeoning FX reserves.

Oanda, one of the world’s leading retail FX brokers, has announced it will halt trading on Sunday as exit polls are released during the Greek election.

New regulatory relaxation of Chinese cross-border renminbi trade is anticipated to spur competition and reduce costs for multinational companies, according to Asiamoney, a sister publication to EuromoneyFXNews.

Further evidence of the recovery in activity in the FX markets emerged as Hotspot FX, the multi-dealer platform owned by Knight Capital, announced a bounce back in trading volumes in May.

The architect of FX Connect, one of the first FX multi-dealer platforms, has launched a new platform that hopes to capitalize on the growing demand for more transparent and price competitive FX trading exchanges.

FXCM, one of the world’s largest retail foreign exchange brokers, has agreed to take a 50% stake in Lucid Markets, an algorithmic FX trading firm, for approximately $176 million as it seeks to grow its institutional client base in the FX markets.

Recent market stress has taken its toll on many emerging market (EM) currencies but the Mexican peso is notably weak, explains Institutional Investor, a sister publication to EuromoneyFXNews.

Markets and officials were quick to reject a proposal from Joseph Yam, former head of the Hong Kong Monetary Authority (HKMA), that the city should consider abandoning the HKD’s peg to the US dollar, but it could be premature to dismiss the appeal.

Roger Rutherford has left his position as global head of FX products at CME Group, the world’s largest futures exchange.

The International Monetary Fund (IMF) has given Japan its blessing to undertake further action to weaken the yen.

The head of sales of the global currencies and emerging markets (GCEM) group at Credit Suisse has resigned, a bank spokesman confirms.

Executives at Record, the UK currency manager, have taken a pay cut after what it described as a challenging year for the group.

Bank Indonesia’s (BI) plan to issue a debut onshore US dollar bond to stabilize the rupiah’s valuation might work in the short term, but the root of the country’s currency problems are policy based, according to Asiamoney, a sister publication of EuromoneyFXNews.

The eurozone crisis has moved into a new phase that will see the euro move more like an emerging market (EM) currency.

Speculators on the CME raised their bets against the euro to fresh highs last week, as concerns over the debt crisis in the region intensified.

The US net foreign investment position suggests the rest of the world is long US dollars, but private accounts are still net short.

Standard Chartered analysts have revised their forecast for the renminbi against the dollar, adding to growing doubts about the appreciation of China’s currency.

The Thailand Futures Exchange (TFEX) has begun offering USD futures contracts, allowing investors to manage their Thai baht exposure through the derivatives market.

In a week dominated by the musings of Federal Reserve chairman Ben Bernanke and European Central Bank (ECB) president Mario Draghi, it would seem useful to find out what is on their minds.

Trading volumes at Thomson Reuters and EBS rose strongly last month, as rising volatility sparked the currency markets back to life.

The Singapore Exchange will offer investors dual currency trading for exchange traded funds (ETFs) from June 15, allowing foreign-currency denominated ETFs to be traded in Singapore dollars or US dollars.

Western Europe is the key battle ground in the quest for supremacy in the global FX markets, asserts Jeff Feig, Citi’s global head of G10 FX.

Foreign exchange reserves at the Swiss National Bank (SNB) shot up in May, as the central bank fought to preserve the SFr1.20 floor in EURCHF, figures reveal.

The internationalization of the renminbi took another step forward in March when all companies in mainland China were permitted to conduct cross-border trade in the currency. No one claims that a revolution is about to occur but the impact will be profound.

Western Europe is the key battle ground in the quest for supremacy in the global FX markets, asserts Jeff Feig, Citi’s global head of G10 FX.