BIS Paper: Should FX Swaps be Visible on Balance Sheets?
Top Headlines
BIS Paper: Should FX Swaps be Visible on Balance Sheets? – Profit & Loss
A new paper published by the Bank for International Settlements (BIS) asks the question, what would balance sheets look like if the borrowing through FX swaps and forwards were recorded on-balance sheet, as the functionally equivalent repo debt is? Read More
Pound Leaps to Highest Since Aftermath of Brexit Vote
Top Headlines
Pound Leaps to Highest Since Aftermath of Brexit Vote – Financial Times (subscription)
The pound leapt above the $1.36 mark to its highest level since the aftermath of the Brexit vote, as a speech from a Bank of England policymaker hardened perceptions that the central bank is moving to raise interest rates for the first time in a decade.
Dollar Rallies Amid Tax Reform Talk, Pushing Euro Below 1.1900
Top Headlines
Dollar Rallies Amid Tax Reform Talk, Pushing Euro Below 1.1900 – Bloomberg
The dollar gained for a third day, its longest winning streak in more than a month, as hopes for US tax reform revived.
Currency-Rigging Scandal Leaves $2 Billion Up for Grabs
Top Headlines
Currency-Rigging Scandal Leaves $2 Billion Up for Grabs – Bloomberg
Currency investors risk leaving money on the table if they don’t submit claims on a $2.1 billion pot of settlement money paid by banks accused of rigging foreign-exchange rates. Read More
BoE Official Says New Global Forex Code May Need Tweaking
Top Headlines
BoE Official Says New Global Forex Code May Need Tweaking – Reuters
A new global code to stamp out attempts at rigging the world’s currency markets may need tweaking just months after it was published, a senior Bank of England official said. Read More
Renminbi Slides After China Relaxes Currency Controls
Top Headlines
Renminbi Slides After China Relaxes Currency Controls – Financial Times (subscription)
Sharpest drop in three months after central bank orders lenders to scrap two rules.
Dollar Weakens to New 33-Month Low as Euro Continues to Climb
Top Headlines
Dollar Weakens to New 33-Month Low as Euro Continues to Climb – Financial Times (subscription)
Major currencies gained across the board against the dollar as the greenback weakened to a new 33-month low and the euro climbed further following Thursday’s meeting of the European Central Bank’s governing council.
Euro Edges Higher Ahead of ECB Decision
Top Headlines
Euro Edges Higher Ahead of ECB Decision – Financial Times (subscription)
The euro ticked higher, signalling muted investor concern that European Central Bank chief Mario Draghi will attempt to talk the currency down when he speaks later in the day.
Judge Ticks Latest FX Benchmark Settlement Claim
Top Headlines
Judge Ticks Latest FX Benchmark Settlement Claim – Profit & Loss
Judge Lorna Schofield of the Southern District Court of New York has approved the proposed settlement that sees five banks pay $111 million for alleged FX benchmark manipulation.
Sterling Steadies Near $1.29 as Data Shows UK Economy Losing Steam
Top Headlines
Sterling Steadies Near $1.29 as Data Shows UK Economy Losing Steam – Reuters
Struggling sterling steadied just above $1.29, with weaker-than-expected numbers from Britain’s dominant services industry adding to a downbeat run of data that has seen the pound lose almost three percent versus the dollar in the past month. Read More