The global foreign exchange (forex) market has ballooned in recent decades as more and more economies liberalise their capital accounts. The Basel-based Bank for International Settlements said average daily turnover in global forex markets was an estimated US$3.98 trillion as of April 2010.
The yuan has recently been something of a safe haven among emerging market currencies, yet market players have learned from a bloody lesson over the past week that it is no longer an easy, one-way bet.Monday, 3 March, 2014, 4:52pm 4 comments
New York banking regulator Benjamin Lawsky is seeking documents from some of the biggest banks in foreign exchange trading, including Deutsche Bank, Goldman Sachs and Barclays, a source familiar with the matter said Wednesday, as a global probe into possible market manipulation widens.6 Feb 2014 - 3:45pm
Britain should relinquish its status as the euro’s financial hub in order to give eurozone members more control over the single currency, France’s central bank governor has said.
In an interview published in Monday’s Financial Times, Christian Noyer of the Banque de France claimed there was “no rationale” for the City of London’s leading role in euro finance.3 Dec 2012 - 9:37am
Its supporters excitedly describe it as rise of the "redback" - red for communist China as opposed to the greenback of the US. Now two distinguished academics have joined a chorus of bankers anxious to share in the lucrative business opportunities they see in the internationalisation of the yuan to challenge the US dollar as the global currency of choice.7 Nov 2012 - 3:36am
European stock markets posted mixed results on Thursday but the pound gained ground after data showed that Britain had marched smartly out of recession, news that offset a sharp drop in profit at Spanish banking giant Santander.26 Oct 2012 - 3:11am
The surge of foreign exchange into the mainland last month is expected to ease pressure for monetary loosening in the near term.
But the influx is unlikely to persist, given the gloomy trade outlook and lack of appreciation in the yuan, analysts say.24 Oct 2012 - 4:07am
The US$4 trillion-a-day foreign-exchange market is losing confidence in central banks' abilities to boost a struggling world economy.23 Oct 2012 - 4:26am
Capital outflows revised lower13 Sep 2012 - 3:00am
Shanghai's hard-currency B shares dropped for the fourth consecutive day yesterday, posting its biggest one-day loss in 10 months, amid rising fears about the tiny market's fate.
The Shanghai B-share Index lost 12.27 points, or 5.64 per cent, to 205.225. It was the biggest daily decline since the indicator tumbled 6.87 per cent on September 22 last year.31 Jul 2012 - 12:00am
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