Dollar Set for Best Weekly Gain in 2017; Euro Struggles
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Dollar Set for Best Weekly Gain in 2017; Euro Struggles – Reuters
The dollar is on track to post its best weekly performance so far this year as a bounce in US Treasury yields fuelled by the Trump administration’s tax plan triggered a shake out in multi-year short bets against the greenback.
Sterling Slips as Carney Says BoE Cannot Nullify Brexit Hit
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Sterling Slips as Carney Says BoE Cannot Nullify Brexit Hit – Reuters
Sterling slipped to a two-week low after the governor of the Bank of England said the central bank could not be expected to nullify the likely damage to the economy from Brexit. Read More
US Dollar Makes Broad Rise Ahead of Trump Tax Speech
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US Dollar Makes Broad Rise Ahead of Trump Tax Speech – Financial Times (subscription)
The US dollar pushed higher, rising against many of its developed market peers ahead of eagerly awaited remarks from Donald Trump on tax reform.
Ex-HSBC Forex Trader Goes on Trial in New York
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Ex-HSBC Forex Trader Goes on Trial in New York – Financial Times (subscription)
The British banker on trial in the US on charges he schemed to front-run a $3.5bn currency deal “threw his client under a bus to make more and more money”, prosecutors argued.
Euro Falls as Merkel Faces German Coalition Test After Win
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Euro Falls as Merkel Faces German Coalition Test After Win – Bloomberg
The euro dropped as Angela Merkel’s victory as German Chancellor was marred by a worse-than-expected result that leaves her facing tough coalition talks.
FXPA Provides Feedback to GFXC on Last Look
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FXPA Provides Feedback to GFXC on Last Look – FXPA
The Foreign Exchange Professionals Association (FXPA) provided feedback to the Global Foreign Exchange Committee (GFXC) on the “last look” practices in the foreign exchange (FX) market, and particularly on Principle 17 of the FX Global Code.
FMSB Annual Report Highlights Progress Made in FICC Reform
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FMSB Annual Report Highlights Progress Made in FICC Reform – Profit & Loss
The UK’s FICC Markets Standard Board (FMSB) has issued its 2017 Annual Report setting out the progress it has made to enhance standards of behaviour in the wholesale fixed income, currencies and commodities markets.
Sterling Jumps After UK Retail Sales Beat Expectations
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Sterling Jumps After UK Retail Sales Beat Expectations – Reuters
Sterling jumped by almost a cent against the dollar after data showed British retail sales surged unexpectedly in August, increasing pressure on the Bank of England to lift interest rates from their record lows.
Dollar Hits Eight-Week High vs. Yen as Fed Meets
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Dollar Hits Eight-Week High vs. Yen as Fed Meets – Reuters
The dollar hit an eight-week high against the yen as US central bank policymakers meet to discuss further monetary tightening, with renewed calm over North Korea easing demand for perceived safe havens like the Japanese currency.