Trade Jitters Spark Broad Gains for the US Dollar
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Trade Jitters Spark Broad Gains for the US Dollar – Financial Times (subscription)
The US dollar climbed against a broad swath of developed and emerging market currencies amid mounting concerns over global trade.
Global FXC Names Leadership Team, Reports on Progress
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Global FXC Names Leadership Team, Reports on Progress – Profit & Loss
The Global Foreign Exchange Committee (GFXC) has named Simon Potter executive vice president of the Federal Reserve Bank of New York, as chair for a one-year term. Read More
Carney Sounds the Brexit Alarm Again
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Carney Sounds the Brexit Alarm Again – Bloomberg
Mark Carney warned that time is running out to remove the threat that Brexit poses to trillions of pounds of derivative contracts, stepping up pressure on the European Union to act.
Dollar Rebounds as Trade Worries Hurt High-Yielding Currencies
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Dollar Rebounds as Trade Worries Hurt High-Yielding Currencies – Reuters
The dollar rose across the board, as lingering global trade tensions prompted traders to ditch most high-yielding currencies and investors focused on expectations the Federal Reserve will continue to raise interest rates.
Yen Climbs on New Trade Tensions
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Yen Climbs on New Trade Tensions – Wall Street Journal (subscription)
The yen rose against the dollar, as investors sought the haven currency amid concerns of an intensifying trade conflict between the US and China. Read More
Euro Slips as Trade Tensions Keep FX Markets on Edge
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Euro Slips as Trade Tensions Keep FX Markets on Edge – Reuters
A rally in the euro faded as the dollar edged up with trade tensions between the United States and the European Union seen deciding the near-term direction for the currencies. Read More
Sterling Hits Six-Day High After BoE Meeting; Brexit Fears Limit Gains
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Sterling Hits Six-Day High After BoE Meeting; Brexit Fears Limit Gains – Reuters
The pound rose to a six-day high after a Bank of England meeting revived expectations of a rate hike this year, but sterling’s gains were checked by fears of a breakdown in Brexit talks next week.
Deutsche Bank Fined $205m by New York DFS for FX Misconduct
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Deutsche Bank Fined $205m by New York DFS for FX Misconduct – Profit & Loss
The New York Department of Financial Services (DFS) has fined Deutsche Bank $205 million as part of a consent order for violations of New York banking law, specifically relating to the bank’s FX business.
Johnson Wins Bail Application
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Johnson Wins Bail Application – Profit & Loss
Former HSBC FX chief dealer Mark Johnson has won his bail application in the US Appeals Court and will been released subject to terms laid down by the District Court. Read More
CFTC Fines JP Morgan Over ISDAFix
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CFTC Fines JP Morgan Over ISDAFix – Profit & Loss
The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against JP Morgan for attempted manipulation of the ISDAFix benchmark and requiring the bank to pay a $65 million civil monetary penalty.