Offshore Renminbi Heads for Worst Week in Five Months on Trade Tensions
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The offshore renminbi has suffered its worst week since last October as the escalating US-China trade war continues to weigh on investor sentiment. Read More
Sterling Slips After UK Service Sector Growth Slows
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Sterling Slips After UK Service Sector Growth Slows – Reuters
Sterling slipped further against the dollar and the euro after a major survey showed British services growing at its slowest rate since just after the vote to exit the European Union in June 2016. Read More
Currency Markets Keep Wary Eye on Trade Troubles
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Currency Markets Keep Wary Eye on Trade Troubles – Reuters
Foreign exchange markets trod water, with investors seemingly unable to make up their minds about any wider fallout from a Sino-US trade dispute, though the safe-haven Japanese yen gained versus the dollar.
Dollar Extends Last Year’s Slide Into 2018
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Dollar Extends Last Year’s Slide Into 2018 – Wall Street Journal (subscription)
The US currency posted its fifth straight quarterly loss in the first three months of the year, puzzling investors who bet it would benefit from corporations repatriating cash in the wake of tax cuts signed into law late last year.
Dollar Steady vs Yen, Traders Wary Over Global Trade Tensions
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Dollar Steady vs Yen, Traders Wary Over Global Trade Tensions – Reuters
The dollar held steady against the yen, taking a breather after last week’s rally and as it treads cautiously amid lingering concerns over a US-China trade spat. Read More
Sterling Set for Best Quarter Since Year Before Brexit Vote
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Sterling Set for Best Quarter Since Year Before Brexit Vote – Reuters
Sterling edged down as end-of-quarter portfolio rebalancing by investors outweighed encouraging economic data, but the currency is still set for its best quarter against the dollar in almost three years. Read More
CME to Shake Up Bond and Forex Markets After Buying Nex Group
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CME to Shake Up Bond and Forex Markets After Buying Nex Group – Financial Times (subscription)
CME Group, the world’s largest futures exchange, has agreed to buy Michael Spencer’s Nex Group for £3.9bn in a deal that heralds a shake-up in the world’s bond and foreign exchange markets.
Euro Perched Near Six-Week Highs as Risk Appetite Intact
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Euro Perched Near Six-Week Highs as Risk Appetite Intact – Reuters
The euro consolidated gains after hitting a six-week high in the previous session as investors waited for fresh catalysts to push the single currency higher. Read More
‘Cartel’ Traders Urge US Judge to Toss Forex-Rigging Charges
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‘Cartel’ Traders Urge US Judge to Toss Forex-Rigging Charges – Bloomberg
A trio of former British currency traders pushed a US judge to throw out charges they conspired to fix the foreign-exchange market, arguing that they can’t be guilty of violating US antitrust laws because the banks for which they worked weren’t always in direct competition. Read More
FXPA Welcomes New Board Members, Announces Working Groups
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FXPA Welcomes New Board Members, Announces Working Groups – FXPA
The Foreign Exchange Professionals Association (FXPA) voted in a slate of new Board members at its annual meeting on March 6, and re-elected Chip Lowry, Senior Managing Director at State Street Global Markets, as Chairman, and Sean Tully, Senior Managing Director at CME Group, as Treasurer. Read More