Bitcoin has failed as a currency measured by standard benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said.
The dollar continued its rebound from three-year lows, having recovered 1.5 percent since Friday on the view that the US currency was due a correction after a brutal sell-off in recent weeks.
Morgan Stanley has taken an axe to its year-end forecasts for the US dollar, with the investment bank expecting the sell-off to accelerate in the second half of 2018.
Sterling fell against the dollar as the US currency rebounded from recent lows, while traders said they were looking to crucial British earnings data due later this week that could help cement bets the central bank will hike rates in May.
Bernie Sinniah, global head of e-solutions at Citi, is to retire from the bank.
The rally that’s made the yen 2018’s top performer among developed-market exchange rates will extend as speculators pick the Japanese currency over the euro to ride the US dollar’s weakness, say analysts.
It seems that increasingly, some FX firms want to adopt the business models deployed so successfully by the large technology giants that have emerged from Silicon Valley.
Competition among the world’s biggest investment banks could undermine revenue growth.
Jolted by the global investment craze over bitcoin and other cryptocurrencies, US lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters.
FinTech agreement is the first of its kind between US and UK financial authorities.
The Financial Market Supervisory Authority (Finma) has introduced a set of guidelines designed to facilitate an orderly, legitimate and growing market for ICO funds.
Office of Financial Research was supposed to anticipate trouble and issue warnings, but initiatives have been delayed or scaled back.
Kevin Taylor said up to 20 benchmark administrators could be recognised under new European benchmark rules.
Cuts at German company to affect investment bankers and traders.
S&P Global Ratings has dismissed fears about cryptocurrency’s potential to crash the global financial system, saying concerns are “much ado about nothing.”
The use of an average to show improvements is misleading, according to an expert.
Bitcoin steadied above $11,000 after breaking through the price mark for the first time since January over the weekend.
The Indian rupee slid to a near three-month low amid growing concerns about an alleged major bank fraud at India’s second-largest state-run lender, whilst emerging stocks fell half a percent.
South Africa’s rand weakened along with other emerging currencies as the dollar regained ground it lost last week and investors awaited details of new president Cyril Ramaphosa’s plans to revive the economy.