Bloomberg Terminals Experience Outage – CNBC
Bloomberg’s trading terminal experienced an outage on Friday morning, with some users saying they were unable to perform their usual trading activity.
BoA the Latest Bank to Settle in FX Litigation Case – Profit & Loss (free story)
Bank of America has become the third bank to agree a settlement in the US antitrust litigation lawsuit that accuses 12 major banks of manipulating the FX market.
Bernanke to Advise Hedge Fund Citadel – New York Times
For eight years, Ben Bernanke, the former Federal Reserve chairman, was steward of the world’s largest economy. Now he has signed on to advise one of Wall Street’s biggest hedge funds. Bernanke will become a senior adviser to Citadel, the $25 billion hedge fund, offering his analysis of global economic and financial issues to Citadel’s investment committees. He will also meet with Citadel’s investors around the globe.
UK Poll Uncertainty Holds Back Sterling – Financial Times (subscription)
Election uncertainty has spooked currency investors and forced sterling to retreat, making a mockery of the pound’s exalted position against the dollar last summer.
Greece Enters Twilight Zone as Visions of Euro Exit Take Shape – Bloomberg
With Greek officials hinting they could be forced from the euro and the country’s creditors growing frustrated with the government’s foot-dragging, analysts are asking what might happen if talks break down.
Everyone Hates the Euro – Bloomberg View
Currencies are the equivalent of company share prices, only for countries or regions. In the same way as investors favor the stocks of well-run companies with healthy profit outlooks in expanding industries, money managers lean toward the currencies of nations with growing economies, political stability and well-run monetary policies. On that basis, the euro region is in trouble.
Dollar Heads for Worst Week in a Month on Weak US Data Run – Reuters
The dollar fell for a fourth straight day on Friday, coming close to its one-week low, after a run of weak US economic data cast doubt on prospects for a Federal Reserve interest rate rise in coming months.
Australian Dollar Rally May Not Last – The Sydney Morning Herald
The Australian dollar hit a three-week high early Friday in the wake of surprisingly strong local jobs data and as the greenback weakened further, but analysts doubt the rally will last.
Rouble Leads Emerging Currency Losses on Rate Cut Hints – Reuters
The prospect of deeper interest rate cuts took Russia’s rouble more than 2 percent lower on Friday, knocking it off 4-1/2-month highs against the dollar, while Russian equity markets also slipped.