Dollar Steadies After Hitting One-Week Low vs Yen; BOJ Stands Pat
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Dollar Steadies After Hitting One-Week Low vs Yen; BOJ Stands Pat – Reuters
The dollar touched a one-week low versus the yen as investors turned cautious following news that investigators probing Russian interference in the US election had charged President Donald Trump’s former campaign manager.
US Investigating Foreign-Exchange Trading at Wells Fargo
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US Investigating Foreign-Exchange Trading at Wells Fargo – Wall Street Journal (subscription)
Federal prosecutors are investigating foreign-exchange trading at Wells Fargo and have subpoenaed information from the firm, which recently fired bankers in that business, according to people familiar with the matter. Read More
Ex-HSBC FX Trader Scott Loses UK Bid to Block Extradition
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Ex-HSBC FX Trader Scott Loses UK Bid to Block Extradition – Bloomberg
HSBC Holdings’ former head of currency trading in London can be extradited to the US to face fraud charges, a London court ruled, three days after his old boss was convicted over the same allegations. Read More
Euro Perched at One-Week Highs Before ECB Vote
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Euro Perched at One-Week Highs Before ECB Vote – Reuters
The euro held near a one-week high before a European Central Bank meeting where policymakers are expected to outline a scaling back of bond-purchase, with analysts expecting a pause in the euro’s rally in the absence of any hawkish surprises. Read More
Ex-HSBC Trader’s Guilt Casts Shadow Over Colleague’s Extradition
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Ex-HSBC Trader’s Guilt Casts Shadow Over Colleague’s Extradition – Bloomberg
The fraud conviction of a former HSBC Holdings executive by a US jury may be a harbinger of what’s to come for London colleague Stuart Scott, as a judge prepares to rule on his extradition to face the same charges this week. Read More
Ex-HSBC Currency Trader Convicted of Fraud for Front-Running
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Ex-HSBC Currency Trader Convicted of Fraud for Front-Running – Bloomberg
Former HSBC Holdings currency trader Mark Johnson was found guilty of fraud for front-running a $3.5 billion client order, a victory for US prosecutors as they seek to root out misconduct in global financial markets.
Yen Weakens to Nearly ¥114 Per Dollar After Abe Election Victory
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Yen Weakens to Nearly ¥114 Per Dollar After Abe Election Victory – Financial Times (subscription)
The yen was visibly weaker in Asia, flirting with the ¥114 per dollar mark in the wake of Prime Minister Shinzo Abe’s resounding weekend victory at the polls.
Dollar Gets a Boost as ‘Trumpflation’ Bets Return
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Dollar Gets a Boost as ‘Trumpflation’ Bets Return – Reuters
The US dollar climbed, on track for its first weekly rise in two, as progress of the US tax plan through the Senate raised hopes of a fiscal boost to the economy, though the lack of inflationary pressures checked gains.
Euro at Three-Day High, Eyeing Catalonia Stand-Off
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Euro at Three-Day High, Eyeing Catalonia Stand-Off – Reuters
The euro climbed to a three-day high on hedging-related demand from bond investors before a European Central Bank policy meeting next week, though political uncertainty around Catalonia crimped gains. Read More
EU Commissioner Rules Out Mifid II Deadline Extension
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EU Commissioner Rules Out Mifid II Deadline Extension – Financial Times (subscription)
The EU’s top financial services official has ruled out any further extension of the January 3, 2018 deadline for markets to comply with a sweeping overhaul of trading rules.