Thomson Reuters Sees Sterling Volumes Boost from Flash Crash
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Thomson Reuters Sees Sterling Volumes Boost from Flash Crash – Profit & Loss
Thomson Reuters says its sterling volumes trebled on October 7, the day of the Cable flash crash which saw the pair drop from above 1.25 to blow 1.15 before recovering to 1.24.
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Euro is a ‘House of Cards’ Ready to Collapse, Key Single Currency Architect Warns
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Euro is a ‘House of Cards’ Ready to Collapse, Key Single Currency Architect Warns – Independent
Professor Otmar Issing, the European Central Bank’s first chief economist who helped create the single currency at the turn of the century, has warned that the euro cannot survive in its current form.
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CFTC Extends $8bn Swap Dealer Threshold
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CFTC Extends $8bn Swap Dealer Threshold – Profit & Loss
The US Commodity Futures Trading Commission has extended the current swap dealer registration de minimis threshold phase-in termination date until December 31, 2018. Read More
US Dollar Charges to Seven-Month Peak as Fed Minutes Show It is Close to Hiking Rates
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The dollar reached its highest level since March as minutes from the Federal Reserve’s September meeting showed several policy makers said a US rate increase was needed “relatively soon.”
Pound at Weakest Level in History Against Currency Basket
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Pound at Weakest Level in History Against Currency Basket – Wall Street Journal (subscription)
The British pound touched a historic low against a basket of currencies on Tuesday, according to Bank of England data released Wednesday morning. Read More
Sterling Falls After Leaked Papers Suggest Leaving Single Market Could Cost UK £66bn a Year
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The pound has fallen to its weakest level since the financial crisis broke out as worries persist over UK’s economic prospects outside the EU.
Mexico Peso Trades at One-Month High After Presidential Debate
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Mexico Peso Trades at One-Month High After Presidential Debate – Bloomberg
The Mexican peso traded at a one-month high after Hillary Clinton and Donald Trump exchanged barbs in the second US presidential debate.
Meltdown as Cable Flash Crashes
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Meltdown as Cable Flash Crashes – Profit & Loss
The subject of liquidity is very much to the fore in foreign exchange markets again following what has been termed a “flash crash’ in Cable in early Asian trading.
- Flash Crash of the Pound Baffles Traders With Algorithms Being Blamed – Bloomberg
- Pound ‘Flash Crash’ Sees Sterling Plunge Six Percent Within Minutes – But Was It Due to a ‘Fat Finger’ Error? – Telegraph
- Cable Low in Dispute as Confusion Reigns – Profit & Loss
- Sterling Recoups Some Losses After 10 Percent Plunge – Reuters
- ‘Flash Crash’ for Pound to USD 1.14 is Surrounded in Mystery – Sky News
Barclays Trader Says He Was Thrown to Wolves Amid FX Scandal
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Barclays Trader Says He Was Thrown to Wolves Amid FX Scandal – Bloomberg
Barclays traders working on the “front-line” of the foreign-exchange market were sacrificed to satisfy regulators and save the reputations of senior executives, according to an employee fired amid the scandal. Read More
Foreign Exchange Revenue Boosts Trading Growth in Q2
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Foreign Exchange Revenue Boosts Trading Growth in Q2 – American Banker (subscription)
Bank trading revenue in the second quarter rose by more than 25% from a year earlier to $6.9 billion on rising combined interest rate and foreign exchange revenue, according a report issued by the Officer of the Comptroller of the Currency. Read More