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FX momentum strategies can yield “surprisingly” high excess returns, according to a new study due to be published in the Journal of Financial Economics, which adds more weight to the view that FX is an asset class in its own right.

Electronic FX trading delivers minimal returns to scale in revenue for banks, though the biggest players can gain a sizeable cost-per-trade advantage from high-volume eFX, says the Boston Consulting Group in a report.

Deutsche retains top ranking in global foreign exchange market; Citi jumps to second place overall in benchmark Euromoney survey

To be published on May 14

The implementation of a renminbi trade settlement clearing system between China and Taiwan is anticipated to exacerbate the already worsening CNH liquidity in Hong Kong, according to Asiamoney, a sister publication of EuromoneyFXNews.

Speculative traders on the CME reduced EUR positions amid political uncertainty as French and Greek voters went to the polls.

Find out on May 10, 2012

China should allow its currency to rise or fall by as much as 10% a day against the dollar, a former member of the People's Bank of China (PBoC) monetary policy committee tells Emerging Markets, a sister publication of EuromoneyFXNews.

The Swiss National Bank’s (SNB) disposal of euros in the first quarter suggests it might abandon its attempts to rein in the franc, despite protestations to the contrary.

Former central bank policy committee member Yu Yongding told Emerging Markets in an interview that China should allow as much as a tenfold expansion of its current RMB trading band

Average daily spot FX volumes in April on Icap’s EBS platform are down by more than a quarter year-on-year.

An eFX sales head has left HSBC and is believed to be joining BNP Paribas.

Leading China expert Stephen Roach this week slammed US policy on China’s exchange rate, urging Washington to ‘re-focus’ its priorities or risk a protectionist backlash

The Depository Trust & Clearing Corporation (DTCC) has started user testing its new global trade repository for over-the-counter (OTC) FX and is planning to roll it out fully in the fourth quarter.

The US should call a ceasefire in a “phoney” currency war with China and instead use this week’s bilateral talks to focus on boosting trade, a leading China expert tells Emerging Markets, a sister publication to EuromoneyFXNews.

The average daily volume of FX contracts traded on US exchanges in April suggests a continued slump in FX trading activity.

The need by Japan’s central bank to enhance its competitive advantage, as well as diversify its FX reserves, has prompted it to seek out Korean debt for the first time, according to Asiamoney, a sister publication to EuromoneyFXNews.

A lack of action from the European Central Bank (ECB) at its policy meeting could trigger a sell-off in the euro that could finally push EURUSD out of its current trading range.

With economies of countries using the euro in turmoil from Spain to Greece, investors have been looking for a safe haven from the storms of currency market volatility and are focusing on Sweden’s krona, writes Institutional Investor, a sister publication to EuromoneyFXNews.

Credit Suisse has hired Neilan Govender from Barclays as a senior global currencies trader, according to a spokesman at the bank.

Asian FX reserve managers are making it hard for EURUSD to break out of its tight trading range as they seek to improve the low returns on their FX portfolios by selling options.

Barclays’ head of emerging markets cash and options trading has left the firm, EuromoneyFXNews can reveal.

The pension fund for Irish state transport group Córas Iompair Éireann (CIÉ) has terminated its €60 million currency mandate with Goldman Sachs Asset Management (GSAM) after a performance review, according to iiSearches.

Michael Spencer, head of hedge fund FX sales at HSBC, has left the bank after seven years and is believed to be joining a rival firm, according to two sources familiar with the matter.

The Swiss National Bank sharply increased its sterling reserves in the first quarter.

London is not planning on setting up its own renminbi clearing bank, Stuart Fraser, the policy chairman of the steering committee at the City of London Corporation, tells Asiamoney Plus, a sister publication to EuromoneyFXNews.

CME Group has announced it has cleared its first customer over-the-counter (OTC) non-deliverable forward (NDF) FX trade.

Currency speculators on the CME have turned net long sterling for the first time since August.