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.
Sterling Holds Breath Before Historic Bank of England Decision
Sterling Holds Breath Before Historic Bank of England Decision – Reuters
Sterling steadied, consolidating some chunky gains this week especially against the euro, before a historic Bank of England policy decision where it is widely expected to raise interest rates for the first time in nearly a decade. Read More
CME to Launch Bitcoin Futures
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CME to Launch Bitcoin Futures – Profit & Loss
CME Group plans to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.
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