A Barclays trader fired amid a global probe into foreign-exchange market manipulation lost his lawsuit against the bank after a judge ruled the lender was right to dismiss him for revealing confidential information to rivals and using sexually explicit, racist language in online chats.
Britain’s pound was the only substantive mover among major currencies, recovering some ground after weekend polls showed Prime Minister Theresa May is set to win next week’s elections even if the scale of victory is in question.
Trustees of UK defined contribution plans should consider implementing a stand-alone currency hedging strategy that takes advantage of the pound’s position against other major currencies, sources said.
The dollar was steady in early Asian trading, holding well above last week’s 6½ month lows and taking news of Pyongyang’s latest missile test in stride.
The weak euro and yen are staging good comebacks, which should lend good momentum for the yuan.
Positioning in currency turned net short for the first time since January this year.
The FX Global Code is in many ways as “strong as any rule, any regulation or frankly any law could put in place”, David Puth, chair of the Market Participants Group and CEO of CLS, claims.
ASIC’s report illustrates the behavioural drivers of conduct that, in ASIC’s view, are likely to lead to poor conduct if not adequately managed.
The Choice Act would reverse much of the legislation adopted after the financial crisis, making the banking system less safe.
A government-run questionnaire inviting comments and suggestions on virtual currencies has received almost 3,000 comments from the public, with a majority of comments calling for its legalisation, and other voices calling for consumer-friendly regulations.
Market sources tell Profit & Loss that James Taylor, executive director at JP Morgan, has left the bank.
Sources tell Profit & Loss that Ben Weinberg has swapped Goldman Sachs for JP Morgan, joining the bank in a senior e-FX sales role.
Broadly speaking, CME Group’s “digitisation” effort can be divided up into two distinct categories. One is related to how blockchain, or distributed ledger technology (DLT), can replace or improve core infrastructure in financial markets.
South Africa’s rand was pulling back in early Asia trade from gains of close to two per cent that had followed President Jacob Zuma’s success in fending off a no-confidence motion from his party at the weekend.
Brazil’s currency and stocks rose as traders hoped for progress on an ambitious reform agenda despite a growing political crisis ensnaring President Michel Temer.
The Canadian dollar strengthened against its US counterpart, adding to gains as oil recovered some lost ground, while data showed that bearish bets on the loonie rose to a fresh record high.