Banks, Brokers Face Post-Brexit Mis-Selling Claims Over FX Options
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Banks, Brokers Face Post-Brexit Mis-Selling Claims Over FX Options – Reuters
Banks and foreign exchange brokers in Britain face legal claims from small companies which allege they were mis-sold complex currency derivatives that soured when the pound fell after Britain’s vote to leave the European Union, according to court filings and sources familiar with the cases. Read More
Deutsche Bank Walks Away from US Swaps Clearing
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Deutsche Bank Walks Away from US Swaps Clearing – Financial Times (subscription)
Deutsche Bank is closing its US swaps clearing business as it battles to cut costs amid continued questions over its business model. Read More
Political Risk Returns as Driver of Forex Trading
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Political Risk Returns as Driver of Forex Trading – Financial Times (subscription)
Political risk, the market phenomenon of 2016, showed signs of a return, knocking the euro back on investor concerns about the French presidential elections.
CFTC Forces FXCM to Exit US Market, Issues $7m Fine
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CFTC Forces FXCM to Exit US Market, Issues $7m Fine – Profit & Loss
The US Commodity Futures Trading Commission (CFTC) has fined FXCM and its founding partners $7 million and ordered the firm to withdraw from doing business in the US for defrauding retail FX customers.
CFTC Fines RBS Over ISDAfix
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CFTC Fines RBS Over ISDAfix – Profit & Loss
The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against The Royal Bank of Scotland for attempted manipulation of the ISDAfix benchmark.
Trump to Order Review of Dodd-Frank, Halt Obama Fiduciary Rule
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Trump to Order Review of Dodd-Frank, Halt Obama Fiduciary Rule – Bloomberg
President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010.
Pound Holds on to Gains as Parliament Awaits Brexit White Paper
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Pound Holds on to Gains as Parliament Awaits Brexit White Paper – Financial Times (subscription)
The pound is holding steady in early trading, the morning after the country’s MPs approved the first stage of the country’s Article 50 talks to leave the EU. Read More
Dollar Struggles After Worst Start to Year in Three Decades
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Dollar Struggles After Worst Start to Year in Three Decades – Reuters
The dollar could recover only a little ground, after recording its worst start to the year in three decades on concerns the United States was poised to ditch a two-decade old “strong dollar” policy.
Bank of Japan Forecasts Trump-Driven Surge in Economic Growth
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Bank of Japan Forecasts Trump-Driven Surge in Economic Growth – Financial Times (subscription)
Central bank keeps policy on hold and raises growth projections after yen slide.
US Travel Ban Row Halts Dollar Recovery
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US Travel Ban Row Halts Dollar Recovery – Reuters
The dollar dipped as investors sought the traditional security of the Japanese yen after new US immigration curbs put the spotlight back on President Donald Trump’s protectionist bent and the risks it poses for the economy.