Pound Falls on Breakdown in Brexit Talks
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Pound Falls on Breakdown in Brexit Talks – Financial Times (subscription)
The pound dropped on uncertainty over Brexit talks as Theresa May fought to revive a deal to break a deadlock in EU divorce negotiations.
Dollar Snaps Three-Day Losing Streak on US Tax Plan Bets
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Dollar Snaps Three-Day Losing Streak on US Tax Plan Bets – Reuters
The dollar rose half a percent against a trade-weighted basket of currencies after the US Senate approved a tax overhaul at the weekend, though gains were limited by doubts that interest rates would rise as a result.
15 European Central Banks Sign Up to Global Code
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15 European Central Banks Sign Up to Global Code – Profit & Loss
Stating that, “All central banks in the European System of Central Banks (ESCB) are strongly committed to supporting and promoting adherence to the Foreign Exchange Global Code of Conduct”, 15 of the ESCB central banks, including the European Central Bank itself, simultaneously issued Statements of Commitment to the Code. Read More
Carney Expresses Optimism Over FICC Misconduct Measures
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Carney Expresses Optimism Over FICC Misconduct Measures – Profit & Loss
In a speech to the FICC Markets Standards Board (FMSB) in London, Mark Carney, Governor of the Bank of England (BoE), expressed optimism that new measures aimed at preventing misconduct in the FICC markets are having a significant impact. Read More
Bitcoin Breaks the $10,000 Mark
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Bitcoin Breaks the $10,000 Mark – Profit & Loss
The value of bitcoin (BTC) soared to over $10,000, a 900% increase in value from the start of the year.
Dollar Lifts Off Two-Month Low Ahead of Powell Confirmation
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Dollar Lifts Off Two-Month Low Ahead of Powell Confirmation – Reuters
The dollar was stuck near a two-month low, as traders waited for the confirmation hearing and first serious test for new Federal Reserve chair Jerome Powell.
HSBC Ordered to Hand Over Records in ‘Front-Running’ Case
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HSBC Ordered to Hand Over Records in ‘Front-Running’ Case – Financial Times (subscription)
HSBC has suffered another setback over allegations that it manipulated foreign exchange markets, after a British judge ordered the bank to hand over records requested by a client who suspects it was a victim of “front-running” by the bank’s traders.
Euro Hits Six-Week High on Growth Outlook Optimism
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Euro Hits Six-Week High on Growth Outlook Optimism – Reuters
The euro hit a six-week high against the dollar, with investors optimistic about the strength of the euro zone’s recovery after strong economic data this week. Read More
Sterling Hits Six-Week High as Traders Brush Off Growth Forecast Cuts
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Sterling Hits Six-Week High as Traders Brush Off Growth Forecast Cuts – Reuters
Sterling hit a six-week high against a weaker dollar, with traders largely brushing off sharp downward growth forecast revisions and refocusing on Brexit negotiations.
US Dollar Weakens as Low Bond Yields Weigh on Currency
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US Dollar Weakens as Low Bond Yields Weigh on Currency – Wall Street Journal (subscription)
The US dollar declined on investor concerns that low longer-term government bond yields may be signaling a weakening outlook for growth and inflation. Read More