Sebastien Galy has left BNP Paribas, the world’s biggest bank by assets, where he was a New York- based senior currency strategist, the company confirmed.
The Bank of Canada will signal the need for lower interest rates at next week’s policy meeting as officials seek to boost economic growth by devaluing the currency, according to Societe Generale SA.
Yen calls surged to a 15-month high versus puts on bets the rally in Japan’s currency against Australia’s dollar will force investors to reverse carry trades, making it more expensive to hedge against losses on the strategy.
"Once you start to push on the dam, there's enough pressure and it starts to break, you can create these explosive moves in terms of the water cascading lower."
- Sebastien Galy on Nov 18, 2014
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