Leveraged finance

Leveraged finance

The threat to corporate America

The loan market fights back

The loan market fights back

Is a sudden turn away from the bond markets what Europe really needs?

FX-survey-logo-2015Euromoney Foreign Exchange Survey 2015

This survey is now LIVE, please click on a language link below to vote:

Respondents will receive a detailed analysis of their peer group's aggregated FX trading volumes and behavioural trends.

  English                                     Korean
  Spanish     Russian
  French     Turkish
  Italian     Vietnamese
  German     Japanese
  Simplified Chinese     Traditional Chinese
  Czech     Bulgarian


- updated for 2015


Queries on survey process or policy or data analysis/bespoke data reports should be addressed to Tim Moxon at tmoxon@euromoney.com

For technical or data issues, email Ben Stevens at bstevens@euromoney.com

Data confidentiality statement

More information on the FX poll
Forex news, analysis & opinion

Treasurers urged to hedge FX risks amid volatility uptick

Treasurers urged to hedge FX risks amid volatility uptick

February 2015

For corporate treasurers, currency volatility is heightening the importance of updating FX hedging policies, amid rising costs.

  • Rising dollar makes renminbi second-most overvalued currency

    What goes up must come down, even the renminbi. Having appreciated by more than 30% since 2008 against a trade-weighted basket, there is growing consensus that 2015 will see further falls in the Chinese currency.

  • Euromoney Foreign Exchange Survey 2015

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  • Lira’s wobbles exacerbate Turkey’s credit risk

    The sovereign’s risk score is sliding again, raising doubts over its safety.

  • Inside investment: Swiss franc and euro – the allegory of the man cave

    How did the relationship of the Swiss franc and the euro turn out to be purely platonic? Conscious uncoupling was perhaps inevitable.

  • Retail foreign exchange ripe for consolidation post-Swiss shock

    The retail FX market is ripe for further consolidation as brokers that successfully navigated the volatility of the Swiss franc cap prepare to swoop on strugglers that took a hit, says the CEO of US forex broker Gain Capital.

  • New FX trading standard sees slow adoption

    Despite its extension to FX last year, market participants acknowledge it is likely to be some time before they feel the full impact of the liquidity-enhancing trading enablement standardization initiative (TESI).

  • Swiss franc move shakes up trading flows

    Foreign-exchange markets have been hit by bouts of extreme volatility this year, prompting investment managers to hastily rebalance their portfolios, but it also signals a welcome return for traders seeking to maximize gains from moving currency markets.

  • FX pegs: Faith no more

    The SNB's removal of its currency floor with the euro and a rising greenback call into question the strength and wisdom of currency pegs elsewhere, especially in the Gulf and Hong Kong.

  • The floodgates of FX litigation open

    JPMorgan’s $100 million settlement of a currency manipulation lawsuit has sparked a flood of interest from potential new claimants, and marks a new victory in their fight for compensation, according to a leading lawyer involved in negotiations.

  • Jury out on impact of trade-finance automation

    Opinion is divided on how automation of trade-finance processes is changing bank practices in relation to FX reporting and processing.

  • Oil and Abenomics in the great yen tug of war

    The yen has been quietly strengthening in recent days, amid renewed concerns about global demand pushing down the price of oil and fresh fears over Europe. If this trend persists, it could be problematic for Japanese prime minister Shinzo Abe, who is closely associated with a policy of yen weakness.

  • Exit Bitcoin, enter block-chain technology

    Negative publicity around cryptocurrencies such as Bitcoin has deflected attention from the potential of the underlying technology to facilitate real-time – and therefore much cheaper – international payments.

  • ‘Barrier running’ investigation alarms FX traders

    Foreign-exchange options traders are feeling the pressure as regulators shine a spotlight on the derivatives market and investigate commonplace practices, such as barrier running, which traders fear might attract criticism.

  • Banking clubs extend global reach

    International banking alliances offer a number of benefits to treasurers – from FX hedging to cash pooling – while Sepa and the rise of non-bank payment providers have yet to diminish their allure.

  • Speculators smell blood as Danish peg comes under fire

    After the shock removal of the Swiss peg to the euro, speculators are testing the DKK peg, though, for now, the central bank is well-placed to withstand the pressure.

  • Swiss franc: special focus

    The Swiss National Bank has been under sustained fire in its attempt to defend its euro peg in recent years. Accordingly, the shift in the long-defended policy regime has shocked markets and will have far-reaching implications for the euro, eastern Europe and private banking, among other things. Euromoney investigates.

  • Russia: Buyers shun deeply discounted rouble

    Russia has been caught in the eye of a perfect storm. Battered by falling oil prices, US and EU sanctions and a dramatic market correction as the rouble was allowed to float, the currency has been in free-fall and liquidity has largely evaporated, with many brokers ceasing rouble trading altogether.

  • Mixed signals fuel confusion on timing of Fed rate rise

    The US has been recording mixed data signals in recent months, with strong GDP undermined by weak wage growth and core inflation.

  • Against the tide: The ECB goes for broke

    The eurozone’s economic fortunes should start to recover with the arrival, at last, of full-blown quantitative easing. As the world’s leading currencies are set for a race to the bottom, it could be time to buy gold.

  • Choice of funding currency set to determine EM FX performance in 2015

    Despite the strengthening dollar and lower oil prices, tactical opportunities in emerging market (EM) foreign exchange abound. The choice of funding currency will be crucial in driving returns in the asset class, say investors.

  • HKD peg back in focus as SNB removes currency floor

    The Hong Kong dollar’s peg to the US dollar has, once again, come under scrutiny after the Swiss National Bank’s (SNB) removal of its currency’s floor roiled currency markets globally.

  • SNB abandons euro peg ahead of expected ECB QE

    The SNB has been under sustained fire in its attempt to defend its euro peg in recent years, as ECB loosening and risk aversion increased safe-haven flows. Thursday's rate cuts and the shift in the long-defended policy regime have shocked markets and have far-reaching implications for the euro and eastern Europe.

  • The future of the RMB: special focus

    An in-depth guide to global currency wars; how Beijing is seeking to globalize the renminbi, through currency swaps and trade-financing facilities; the rise of the offshore bond market; and how fee-hungry banks are salivating at the prospect of the RMB’s growth.

  • All eyes back on Greece but break-up still unlikely, say analysts

    Concerns that Greece could be on the verge of leaving the euro are back to the fore after the country called elections that could usher in a government determined to rip up the existing aid agreement – but analysts doubt the brinkmanship will lead to Greece leaving the single currency, let alone a full-scale euro break-up.

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    A fine time for the top 10


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