Trading in some foreign-exchange instruments involving the Chinese currency, the yuan, suggest that the government might be ready to let the currency appreciate in value.
No one claims that the deterrent effect of the foreign exchange intervention instrument is proportional to the amount of reserves.
Thirdly, the foreign exchange intervention instrument will be made more credible and the capacity of the ECB to adjust to various scenarios will be fostered.
In a major expansion the Treasury is moving into the business of guaranteeing money market funds, drawing on obscure language in the 1934 Exchange Stabilization Fund that authorizes it to "deal in gold, foreign exchange, and other instruments of credit and securities".
If it is a success, it will affect trading patterns in foreign exchange and perhaps other instruments.
Chinese foreign exchange reserves, the main instrument of currency manipulation, reached an unprecedented $2.5 trillion this past June.
The term bill of exchange may also be applied more broadly to other instruments of foreign exchange, including cable and mail transfers, traveler's checks, letters of credit, postal money orders, and express orders.
Barclays and HSBC increased their British mortgage books by £6.0 billion and £6.7 billion, respectively, but Northern Rock, which in February pledged to add £14 billion of home loans over two years, had lent less than a tenth of that by July.A big chunk of Barclays' and HSBC's profits came from trading, mainly in foreign exchange, commodities and interest-rate instruments (see chart).
The exempted derivatives — instruments known as foreign exchange swaps and forwards — represent a $4 trillion-a-day global market and are one of the big banks' largest sources of derivatives trading revenue.
The AbleMarkets Aggressive HFT Index is a stable well-performing mechanism that measures aggressive HFT across most electronically traded financial instruments, including equities, futures, foreign exchange and others.
Controls on foreign exchange often prevent them raising more money by investing in exciting financial instruments in the West.
