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  1. Technology helps to level the playing field in currency markets

    Posted Jul 30th 2006, 12:00am by Louis Beckerling

    ... Reports by Louis Beckerling THE MARCH OF technology has levelled investment playing fields, and perhaps none more so than in currency trading markets, which now record average daily turnovers of more than US$2 trillion. In its infancy, currency trading was limited to largely bilateral 'hedging' positions taken by big institutions to limit the risk of translation ...

  2. Latest currency relaxation another advance... in theory

    Posted Sep 22nd 2005, 12:00am by Louis Beckerling

    ... Louis Beckerling Foreign banks operating in the mainland this week began offering yuan forward contracts to their corporate customers in China following the latest relaxation of currency ... on the great (and long) march to a freely floating currency. But don't expect that destination to be reached any time soon, bankers observe. If anything, the sedate and measured pace at which ...

  3. Carry trade is risky but interesting

    Posted Sep 28th 2008, 12:00am by Louis Beckerling

    ... the Japanese yen and the Australian dollar. But with interest rate differentials between the two currencies remaining a temptation at above 6 per cent, currency punters could be lured back ... has long been a popular punt among currency investors, who borrowed Japanese yen at rates of interest that were close to zero and placed the proceeds in high-yielding Australian dollar ...

  4. Focus sharpens on hot cash

    Posted May 16th 2005, 12:00am by Louis Beckerling

    ... reopen tomorrow, analysts said. 'The changes may involve setting up some kind of trading band for the currency and the implication for the stock market is that we may see more ... from tracking US rates higher- the mechanism by which currency stability is maintained under the peg. That has threatened to ignite inflation and a property price bubble, and HKMA chief ...

  5. Yam retaliates first as rate-rise pressure mounts

    Posted Jul 07th 2005, 12:00am by Louis Beckerling

    ... Louis Beckerling Hong Kong's de facto central banker, Joseph Yam Chi-kwong, is preparing defences against a seasonal tilt at his currency board, which pegs the Hong Kong dollar ... to prevent an acceleration in asset prices. The only way to engineer such an outcome under Hong Kong's currency board system, Mr Yam pointed out in his weekly Talking Point column, would ...

  6. Pressure mounts to give rates a leg up

    Posted May 16th 2005, 12:00am by Louis Beckerling

    ... A change to the 21-year-old currency peg will close the door on hot money inflows and bring interest rates in line with the economic cycle, writes Louis Beckerling Hong Kong homeowners and borrowers have enjoyed an extended interest-rate holiday, courtesy of currency speculators punting on a revaluation of the yuan. Depositors, on the other hand, have endured record-low interest-rate ...

  7. Traders rule out 'hot money' theory

    Posted Apr 27th 2005, 12:00am by Louis Beckerling

    ... sharp drop in interest rates, traders and bankers said yesterday, citing an unchanged aggregate balance and a relatively stable forward rate on the currency. Talk of speculative money inflows ... the latest events on the money market at about $3.8 billion. Currency trader Carlos Cheung of Bank of East Asia said it was not possible to verify accounts of hot money rumoured to be flowing ...

  8. Exchange Fund yields $56.7b

    Posted Jan 21st 2005, 12:00am by Louis Beckerling

    ... for Hong Kong's currency peg shows an income of $56.7 billion for last year, or a return on investments of 5.7 per cent. That year-end outcome is sharply down on a record return of $89.7 ... Authority, which manages the fund under a mandate from the government to preserve Hong Kong's official reserves and support its currency peg system, unveiled the results yesterday. Given ...

  9. Local dollar may soon find no room in one country, two systems

    Posted Aug 25th 2005, 12:00am by Louis Beckerling

    ... and the revaluation of the yuan by the People's Bank of China on July 21, the US dollar exchange values of the two currencies have begun creeping together. Exchange rates of economies as closely linked as Hong Kong and China that in addition establish a reputation for moving in step with one another could become a helpful but by no means sufficient condition for introducing a single currency ...

  10. HK banks leave rates unchanged- for now

    Posted May 05th 2005, 12:00am by Louis Beckerling

    ... Louis Beckerling Hong Kong banks left prime lending rates unchanged yesterday despite a rise in the federal funds rates in the United States, and borrowers had currency speculators ... lending rates by a further 25 basis points. Under the currency peg system linking the Hong Kong and US dollars, local rates should not deviate from US rates for any sustained period, Mr Lau said. ...




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