ACI Commits Members to FX Global Code
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ACI Commits Members to FX Global Code – Profit & Loss
ACI – The Financial Markets Association has announced it is mandating its 9,000 members to explicitly commit to the FX Global Code of Conduct, the complete version of which will be released on May 25. Read More
Two More Australian Banks Settle FX Claims
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Two More Australian Banks Settle FX Claims – Profit & Loss
ANZ and Westpac have both accepted enforceable undertakings from the Australian Securities and Investment Commission (ASIC) relating to control failures in their global FX businesses. Read More
US Dollar Comes Under Pressure After Fed Holds Rate Forecast Steady
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US Dollar Comes Under Pressure After Fed Holds Rate Forecast Steady – Financial Times (subscription)
The US dollar skidded after the Federal Reserve raised rates, but left unchanged its expectations for further increases this year.
Trump to Nominate CFTC Acting Head Giancarlo as Permanent Chairman
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Trump to Nominate CFTC Acting Head Giancarlo as Permanent Chairman – Reuters
President Donald Trump plans to nominate J. Christopher Giancarlo to lead the Commodity Futures Trading Commission, the regulator tasked with policing the massive over-the-counter derivatives market, the White House said. Read More
Pound Tumbles in Delayed Reaction as May Gets Brexit Go-Ahead
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Pound Tumbles in Delayed Reaction as May Gets Brexit Go-Ahead – Bloomberg
The pound tumbled against all of its Group-of-10 peers as London traders sold the currency after UK Prime Minister Theresa May was given the go-ahead to trigger Brexit.
Daily FX Trade More Like $3 Trillion Than 5: CLS
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Daily FX Trade More Like $3 Trillion Than 5: CLS – Reuters
The world’s biggest financial market may be only half as big as you thought it was. Read More
Dollar Hits Seven-Week High vs Yen Ahead of US Jobs Data
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Dollar Hits Seven-Week High vs Yen Ahead of US Jobs Data – Reuters
The dollar rose to seven-week highs against the yen, as investors awaited US jobs data that is likely to cement expectations of a Federal Reserve interest rate hike next week.
Euro Firm, Stocks Soft Ahead of ECB Decision
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Euro Firm, Stocks Soft Ahead of ECB Decision – Financial Times (subscription)
The euro is a touch firmer and Bund yields are trundling higher with Treasuries as traders await the latest monetary policy decision by the European Central Bank.
G20 Draft No Longer Rejects Protectionism or Competitive Devaluations
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G20 Draft No Longer Rejects Protectionism or Competitive Devaluations – Reuters
The world’s financial leaders may no longer explicitly reject protectionism or competitive currency devaluations, a draft communique of their meeting next week showed, promising only to keep an “open and fair international trading system”. Read More
Sterling Hits Seven-Week Low Before Second Lords’ Brexit Vote
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Sterling Hits Seven-Week Low Before Second Lords’ Brexit Vote – Reuters
Sterling fell to a seven-week low against the dollar, ahead of a second vote in Britain’s upper house of parliament on legislation giving Prime Minister Theresa May the right to start formal Brexit talks.