NY Fed Formalises Ashton Ban and Fine
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NY Fed Formalises Ashton Ban and Fine – Profit & Loss
The Federal Reserve Bank of New York has formally imposed a $1.2 million fine and a permanent ban on employment in the banking industry against former Barclays trader Chris Ashton, the former global head of FX spot trading at the bank.
EM Hit as Brazil Bears Brunt of Investor Unease
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EM Hit as Brazil Bears Brunt of Investor Unease – Financial Times (subscription)
Nearly 8% wiped off nation’s currency following corruption allegations.
Trump Administration Weighs Adding Currency Rules to Nafta
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Trump Administration Weighs Adding Currency Rules to Nafta – Wall Street Journal (subscription)
The Trump administration has told senators it is considering adding rules barring currency manipulation to the North American Free Trade Agreement, according to congressional aides, a departure from past US policy that could set a precedent for other trade deals. Read More
Yen Firmer as Dollar at Weakest Level Since November Election
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Yen Firmer as Dollar at Weakest Level Since November Election – Financial Times (subscription)
Japan’s yen was the outlier in Asia forex trading as most major currencies in the region ceded ground to the greenback, which was still hovering around its weakest level since November’s presidential election.
Pound’s Post-Inflation Rally Evaporates Fast
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Pound’s Post-Inflation Rally Evaporates Fast – Financial Times (subscription)
Sterling’s knee-jerk pop higher in response to forecast-busting inflation data has proven very short-lived. Read More
Dollar Starts Week Under Shadow of Underwhelming Data, North Korea
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Dollar Starts Week Under Shadow of Underwhelming Data, North Korea – Reuters
The dollar started the week on the defensive after US economic data came in shy of expectations and another missile test by North Korea at the weekend underpinned the perceived safe-haven yen.
Dollar Heads for Strongest Week This Year on Fed Hike Bets
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Dollar Heads for Strongest Week This Year on Fed Hike Bets – Reuters
The dollar traded near a three-week high, on track for its strongest week this year, as robust producer price and labor market data bolstered expectations that the Federal Reserve will raise US interest rates again in June.
Banks Depict South African Rand Probe as Vague, Embarrassing
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Banks Depict South African Rand Probe as Vague, Embarrassing – Bloomberg
Some of the banks accused of manipulating trades in the rand are objecting to the complaint by South Africa’s Competition Commission, calling it vague and embarrassing, and demanding it be amended or dropped. Read More
Derivatives’ Positions Outstanding Decrease: BIS
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Derivatives’ Positions Outstanding Decrease: BIS – Profit & Loss
The increase in OTC derivatives positions that took place in the first half of 2016 reversed in the second according to the latest data from the Bank for International Settlements (BIS). Read More
Early Rally ‘as Good as It Gets’? Euro Keeps Sliding After Macron’s Win
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The euro continues to decline after the success of Emmanuel Macron in the French presidential election. Read More