The dollar held steady within established trading ranges as investors who have recently bet heavily against the greenback digested the implications of weekend strikes on Syria by United States and its allies.
BNY Mellon’s Murphy favors Japanese yen and Norwegian krone.
The pound rose despite Britain’s military intervention in Syria, as investors focused on data that could help shore up expectations of a May interest rate hike.
The former head of Wells Fargo & Co.’s foreign-exchange trading group sued the bank for wrongful termination, alleging his attempts to alert managers to abusive sales practices over more than a decade ultimately cost him his job.
Mark Johnson should be sentenced to home confinement in the UK, rather than prison, as well as probation and community service, argue his defence attorneys.
Russia’s currency was on the back-foot once again as the week kicked off, with investors responding to the US-led strikes in Syria and a threat from the Trump administration that it will apply further sanctions.
The currencies of places as diverse as Russia, Hong Kong and Kazakhstan slid last week, an alarming sign to some investors who worry that the geopolitical volatility affecting US stocks is spreading to other markets.
The prime brokerage market will be hoping for a boost from the imminent launch of BNY Mellon’s new service, which will represent a reversal of the trend for larger banks to leave the space.
Banks are spreading their bets, and their headcount, out across the continent in the wake of the Brexit vote
For currency managers the answer is, of course, more flexibility, but that means we edge into the world of style drift – and that is a no-no.
Deutsche Bank has been asked by European Central Bank supervisors to calculate the potential costs of winding down its investment banking operations, a source told Reuters.
The US has added India to the list of countries whose foreign exchange and economic policies are under its close scrutiny, while again opting not to accuse leading trading partners of being currency manipulators.
The connection will provide a new pathway for Japanese banks to obtain Hong Kong dollars and cut the exchange-rate cost.
Banco Santander has announced the launch of a new international payments service using blockchain-based technology.
Exegy, a provider of managed services and low-latency technology for market data normalisation and distribution, has launched Trade Port FX, a fully managed FX market data and order execution solution.
India’s Coinsecure has told authorities it has lost $3.5m worth of its customers’ bitcoin, the latest example of the risks to investors in the sector.
Hong Kong has taken action to support the local currency for the fifth time in less than a week, after the Hong Kong dollar repeatedly slumped to the low end of its permitted trading band.
Turkey’s lira was a touch weaker after plumbing a series of record lows last week, as investor alarm about double-digit inflation has been heightened by President Tayyip Erdogan’s drive for lower interest rates.
While the ringgit is still Asia’s third-best performer this year, it lost ground this month as uncertainty increases before the May 9 vote.