Top Headlines
Brazil Antitrust Agency Investigating Banks for Suspected Rate Manipulation – Wall Street Journal (subscription)
Brazil’s antitrust agency is investigating banking giants Citigroup, HSBC, Deutsche Bank and a long list of their peers on suspicion of forming a cartel to manipulate the exchange rate of the Brazilian currency, the real.
Commerzbank Sued by Employee Who Says Bank Run Like a ‘Frat’ – Bloomberg
Commerzbank was sued by a director who said she was discriminated against in an environment more akin to a fraternity where she was isolated by discussions held in German, or at bars.
Swiss Intervention Seen Losing Potency as Foreign Reserves Swell – Bloomberg
For the first time since January, Switzerland admitted intervening in currency markets this week to curb the franc, which has been climbing against all its major peers in 2015. Analysts say the nation will have a hard time keeping that up.
Traders Tentative Ahead of Greek Referendum – Financial Times (subscription)
Equity, fixed income and FX markets are struggling to establish clear trends as caution prevails ahead of the Greek “cash for reforms” referendum on Sunday.
The Other Contagion: What If Greece Thrived After Euro Exit? – Bloomberg
It is the scenario few talk of: What if Greece left the euro area and its economy thrived? The reason for the silence may be that it’s too ridiculous a concept to even consider.
FX Data Analytics: Banks’ New Frontier – Euromoney
Banks cannot afford to ignore the potential value of using insights from data analytics to personalise their FX services.
Banks Struggle With Real-Time FX Settlement Challenge – Euromoney
In the absence of an industry-wide consensus on faster settlement, availability of real-time FX conversion is likely to remain patchy – challenging the growth of immediate payments in corporate banking. |
