United States dollar
Dollar smiles again, but for how long?
Twitchy investors backed the buck during Iran war, but experts are divided on whether this marks a return of the dollar smile
Indian banks in race against clock to unwind USD/INR trades
An estimated $7 billion of open arbitrage trades must come off the books by April 10
Russell’s flexi hedging aims to tame jumpy yen
Japanese clients can dynamically switch hedging profile based on USD/JPY movements
Has the Iran conflict made FX untradable?
FX options volumes jump despite high costs and short-lived opportunities
Meta breaks ranks on FX hedging
Social media firm is first of three unhedged Mag 7 tech companies to begin using currency forwards
Franklin Templeton closes $5bn yen options book
Counterparty Radar: Asset manager’s bets on USD/JPY soured as yen weakened through Q4
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Short dollar bets make cautious return after safe-haven rush
Cautious USD-weakening positions re-emerge despite return of natural ‘dollar smile’ hedge
Hedge funds trim US swap spreads on tariff decision
Investors cut back asset swap positions as Supreme Court ruling reignites deficit concerns
Wild dollar swing upended FX options hedges
Banks chased vol higher as last week’s EUR/USD surge knocked out barrier trades
LatAm FX carry trade shrugs off geopolitical fears
Clients in regional carry positions remain undeterred by US interventions, say dealers
US mutual funds slash short euro positions at record pace
Counterparty Radar: Pimco cut $4.6bn of EUR/USD puts in Q3 amid changing stance on dollar direction
Dealer views mixed over future of profitable EM FX carry trade
Emerging market FX carry trades have generated 7.5% returns since April, but dealers question longevity
Banks scale back short-dated FX swaps trading, BIS finds
Interbank FX swaps hit by higher short-term hedging and funding costs, while longer-dated forwards activity jumps
Currency derivatives house of the year: Bank of America
Risk Awards 2026: Early call on dollar weakness helped bank break vega records in April and quickly recycle 95% of risk
Inside Safran’s $54bn FX options book
French aircraft parts supplier emerges as key exotics player
Real money looks to dynamic hedges after tariff bout
Buy-siders are adopting more responsive FX hedging strategies after correlations broke down
Euro credit growth catches up with dollar in global flows
Cross-border lending hits $37trn as euro flows gain ground
Pimco piled into euro put options in Q2
Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion
European exporters add flexibility to FX hedges
Corporates with USD exposures have been reducing hedging tenors and adding optionality
Talking Heads 2025: Who will buy Trump’s big, beautiful bonds?
Treasury issuance and hedge fund risks vex macro heavyweights