False Hope’s trading catches up with him: London arrest

GENEVA, SWITZERLAND – Alex Hope, a publicity-garnering 23-year-old self-proclaimed Forex specialist appears to have been arrested in London on charges of fraud, according to the Guardian. Hope came to fame for his high-rolling lifestyle, notably waving the receipt for a £125,000 bottle of Arnand de Brignac champagne. The self-trained trader’s web site, alexhopefx.com, was down […]

US dollar sinks to record low vs Swiss franc

(GenevaLunch) – The US dollar has sunk to a record low against the Swiss franc on the prospect that the US Federal Reserve will ease monetary policies (more money-printing). The dollar also fell to a 15-year low against the Japanese yen while the Australian dollar surged to a 27-year high against the US dollar. On […]

Dollar falls against Euro, Swiss franc

The US currency has fallen to its lowest level against major currencies, and gold hit a new record amid worries that the US Federal Reserve may intervene again to avoid a recession. The dollar touched 1.30 per Euro, and parity against the Swiss franc in late trading 14 September. The dollar rose against the Japanese […]

Japanese Yen weakens on central bank’s moves to intervene

The Japanese yen eased slightly on currency markets after hitting a high of JPY88.24 against the US dollar in New York trading 28 September. Japanese central bank governor Hirohisa Fujii said the bank may intervene to push the yen down. The yen declined against all major Asian currencies. Japan’s export-dependent economy favours a weaker yen. […]

Dollar to remain global investment currency, say Chinese

Chinese official Guo Shuqing, meeting with Americans this week in Beijing to discuss the economy, says his country will continue to back the US dollar as the global reserve currency. The bulk of Chinese foreign investment is in dollars; the Financial Times notes that only 6 percent is in direct investment. The Chinese have been […]

ACM to open Zurich office

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Geneva, Switzerland (GenevaLunch) – ACM, the world’s largest currency trader, based in Geneva, Monday announced that is opening a new office in Zurich. The announcement comes on the heels of confirmation last week that it has applied for a banking license. The company told GenevaLunch in October 2008 that it would be applying for a […]

Geneva currency trader says business is up during market crisis

[Update, with headline change, 11:17) Geneva, Switzerland (Tribune de Geneve, Fre) – ACM (Advanced Currency Markets), world leader in currency trading based in Geneva, is not sweating out the current global financial crisis, with a record CHF187.5 billion in currency transaction in September 2008, director Nicolas Bang tells the Tribune in an interview.