United States dollar
Hedge funds crowd into bullish Brazilian real trades
Funds snap up FX options betting on stronger real after a Bolsonaro win
Dollar reversal could scupper EM carry boom, dealers warn
Surprise rate hike or a USD rally may force unwinds in popular emerging markets carry trades
Westpac’s credit exposures surge on Aussie dollar moves
Bank adds A$1.5bn in CVA and CCR charges in latest quarter, driven by higher mark-to-market value of derivatives
Shining a light on the dollar repo market
The US dollar repo market underpins global liquidity, yet limited transparency obscures emerging funding pressures and systemic risks
Dealers shun yen barriers after joint US-Japan action
Market-makers retreat from exotic structures amid intervention risk, with funds in wait-and-see mode
Chinese exporters step up FX sophistication
Onshore corporates traded record FX options volumes in June and are tapping experienced bank traders
MSIM retools renminbi options wager
Counterparty Radar: US manager rebuilds USD/CNH call book to $15.7bn with strikes closer to spot and cheaper premiums
Yen options dealers struggle to hedge intervention risk
Hedge funds’ bets on BoJ intervention are leaving dealers with vol-surface exposures they can’t hedge cheaply
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
Traders revive emerging market carry trades on vol drop
Investors eye high-yield Latin America currencies as implied volatility falls
FX options traders lost in Iran fog
Headline ‘ping-pong’ saps hedge funds’ conviction, though pockets of vol selling have re-emerged
The dollar do-si-do: hedgers review FX moves
Brief return of US dollar to safe-haven status amid Iran upheaval prompts real money investors to pause hedging activity
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