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.
Dollar Climbs More After Trump’s Mexico Comments
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Dollar Climbs More After Trump’s Mexico Comments – Reuters
The dollar recovered another half a percent against a basket of currencies after President Donald Trump suggested he would push ahead with a 20 percent border tax on Mexico.
Mexican Peso Soars as Trump Orders Border Wall
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Mexican Peso Soars as Trump Orders Border Wall – Wall Street Journal (subscription)
The Mexican peso surged more than 2% against the US dollar, confounding many traders, after President Donald Trump signed orders to build a wall on the Mexican border and clamp down on immigration. Read More
SEC Fines Citigroup, Morgan Stanley Over Forex Trading Program
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SEC Fines Citigroup, Morgan Stanley Over Forex Trading Program – Reuters
Citigroup and Morgan Stanley each agreed to pay more than $2.96 million to settle charges they misled investors about a foreign exchange trading program they were selling, the US Securities and Exchange Commission said.