Dollar Rebounds from Four-Week Lows as Risk Appetite Recovers
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Dollar Rebounds from Four-Week Lows as Risk Appetite Recovers – Reuters
The dollar rebounded from four-week lows against the yen, as global markets regained some of their risk appetite after a sharp sell-off in stocks and the greenback over the past week.
GFXC Frowns on Trading in the Last Look Window… with Exceptions
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GFXC Frowns on Trading in the Last Look Window… with Exceptions – Profit & Loss
The Global Foreign Exchange Committee (GFXC) says it has concluded that Principle 17 “should indicate that market participants should not undertake trading activity that utilises the information from the client’s trade request during the last look window”.
New York State Regulator Fines Credit Suisse $135 Million Over Forex Practices
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New York State Regulator Fines Credit Suisse $135 Million Over Forex Practices – Reuters
Credit Suisse Group agreed to pay $135 million to New York to resolve a probe of misconduct in its foreign exchange business, which the state’s banking regulator said deceived customers to enhance its own profits. Read More
Pound Falls Fast After Theresa May No-Confidence Report
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Pound Falls Fast After Theresa May No-Confidence Report – Financial Times (subscription)
The pound fell sharply following weekend reports that 40 Conservative MPs had agreed to sign a letter of no confidence in Theresa May, UK prime minister, and Eurosceptic cabinet ministers pushed her to take a tougher line on Brexit.
Dollar Edges Lower on Tax Overhaul Concerns
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Dollar Edges Lower on Tax Overhaul Concerns – Wall Street Journal (subscription)
The dollar slipped as concerns grew over possible delays to a long-awaited Republican tax overhaul.
Citadel, Vanguard Call for End to Controversial FX Last Look
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Citadel, Vanguard Call for End to Controversial FX Last Look – Bloomberg
More opponents of “last look,” the controversial practice in currency markets that allows dealers to back out of losing trades, have come forward to air their grievances to central bankers and industry participants. Read More
Dollar Slips on Fears Over US Tax Reform Delay
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Dollar Slips on Fears Over US Tax Reform Delay – Reuters
The dollar slipped against most major currencies, weighed down by worries over possible delays to Donald Trump’s tax reform plan and evidence of the US president’s waning popularity.
Giancarlo: Crypto-Currency Futures Do Not Need New Rules
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Giancarlo: Crypto-Currency Futures Do Not Need New Rules – Risk (subscription)
New regulation is not needed to oversee the bitcoin derivatives market, according to Christopher Giancarlo, chairman of the Commodity Futures Trading Commission. Read More
Yen Unnerved by Trump’s Trade Rhetoric
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Yen Unnerved by Trump’s Trade Rhetoric – Financial Times (subscription)
There is a political flavour to market sentiment, with remarks from President Trump knocking Japan’s currency and crude higher after Saudi Arabia’s anti-corruption crackdown. Read More
Dollar Buoyed as Investors Look Towards Jobs Report
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Dollar Buoyed as Investors Look Towards Jobs Report – Financial Times (subscription)
After an underwhelming reaction from the dollar to confirmation of Jay Powell’s nomination as the next head of the Federal Reserve and the House Republicans’ tax plans, investors are looking ahead to the US jobs report for October.