BNP Paribas SA became the latest bank to be dragged into a spate of foreign-exchange-related employment lawsuits after its former head of spot currency trading sued the lender.
Federal Reserve officials last month held a vibrant debate that pitted the steady U.S. expansion against heightened global risks and reached a broad agreement on a go-slow strategy that reduced the odds of a rate increase in the first half of the year.
- Dollar Nurses Losses After Fed Minutes Underscore Caution – Reuters
- Split Fed Sees ‘Appreciable’ Global Risks – The Financial Times (subscription)
U.S. asset manager BlackRock is considering launching an exchange traded fund (ETF) on the Tokyo Stock Exchange (TSE) that will allow Japanese investors facing negative yields at home exposure to international bonds without currency risks, a senior BlackRock executive told Reuters.
European Central Bank officials underlined their readiness to ease monetary policy even further should fresh risks to the economic outlook arise.
After a bruising loss in Wisconsin, Hillary Clinton is hitting back at Bernie Sanders, alleging that the Vermont senator is not ready for the White House.
The yen is looking perilously strong, which isn’t just bad news for Japan’s exporters. It also puts pressure on government finances at a time when investors are praying a scheduled tax increase gets shelved.
Australia’s central bank finally came off the sidelines of the global currency wars this week to say a higher dollar could complicate the economic recovery Down Under, while outing other central banks as the main culprits for the local currency’s appreciation.
- Why Global ‘Currency Truce’ May Not Last – MarketWatch
- Only Gold Wins in a Currency War – Johns Hopkins Economist – Kitco News
Wall Street is making progress in its effort to soften a crisis-era capital requirement that banks argue places onerous expenses on trading.
Barclays has become the first big British bank to form a partnership with a digital currency firm, social payments app Circle, which runs partly on bitcoin’s blockchain network and launched in the UK on Wednesday.
Two funds managed by Gávea Investimentos Ltda, the hedge fund run by former Brazilian central bank President Arminio Fraga, posted heavy losses in March as bets on declining prices for financial assets in Asia and Brazil soured.
China’s yuan is depreciating and brought huge volatility to weigh on companies’ books.
The Chinese central bank’s appetite for trade-weighted weakness in the yuan appears to be increasing, according to Australia & New Zealand Banking Group Ltd., spurring warnings of increasing risks to emerging-market currencies.
Much has been made of the recent weakness of sterling. Today, the Bank of England’s trade-weighted sterling index has dropped to its lowest level (83.89) since December 2013. The sell-off is inevitably being at least partially attributed to fears that the UK will leave the EU – or Brexit as it is commonly known.
One of the finer ironies of this extraordinary U.S. election is that Donald Trump is a former star of a reality show. Much of what he says is far removed from anything that objectively would be deemed as reality.
The number of spot United States Dollar (USD) transactions performed in the Brazilian interbank market and registered for settlement with BM&FBOVESPA’s Foreign Exchange Clearinghouse totaled 1,851 in March, for an aggregate value of USD 34.32 billion, compared with 1,640 and USD 19.14 billion in February.
Japan Exchange Group, Inc. (JPX) and Nomura Research Insitute have agreed to jointly begin conducting proof of concept (PoC) tests for blockchain, or distributed ledger, technology.
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