Global FX 2013
LONDON The European Union's proposed financial transaction tax (FTT) risks limiting companies' and pension funds' access to liquidity and funding, a senior HSBC official said on Monday.
SINGAPORE Having just announced its best quarterly financial performance in five years and a second quarter of record volumes in its derivatives business, the Singapore Exchange (SGX) hopes geographic advantages will help make a success of its new menu of Asian currency futures later this year.
NEW YORK Fears of a Chinese economic hard-landing have eased but recent disappointing data underscored risks of slower-than-expected growth in the world's second largest economy, fund managers said at the Reuters FX Summit.
LONDON The technological "arms race" in the foreign exchange market will escalate, Deutsche Bank's global head of foreign exchange said on Monday.
NEW YORK The world's biggest developed nations, particularly Japan and the United States, have engaged in various efforts to lower interest rates to stimulate consumer demand that some investors have taken to calling a "currency war."
LONDON The options business in the Chinese offshore yuan market is picking up significantly as China lets its currency trade more freely, global heads of foreign exchange said on Monday.
NEW YORK The yen has mostly lost its luster given recent changes in Japanese monetary policy, and even volatility in the near term will not detract from the currency continuing to lose ground in months ahead, market analysts and money managers said on Monday.
NEW YORK The Bank of Japan's massive monetary stimulus plan has likely led to an overshooting of yen weakness against the U.S. dollar in the short-term but the longer-term down trend remains intact, Oppenheimer Funds' Alessio De Longis said on Monday.
NEW YORK Worries about the global economy will boost the yen against the dollar in the coming months despite Japan's aggressive stimulus program, John Taylor, chairman of FX Concepts, one of the largest currency hedge funds, said on Monday.
((For other news from Reuters Global FX Summit, click on http://www.reuters.com/summit/FX13))
LONDON The euro could follow the yen as the next major currency to decline against the dollar, hurt by easier monetary policy and a lack of structural reforms, an official at a leading currency fund manager said on Monday.