Yen Hits 17-Month High and Dollar Dips on US Trade Tariffs
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Yen Hits 17-Month High and Dollar Dips on US Trade Tariffs – Financial Times (subscription)
The yen strengthened to a near 17-month high and bonds gained in the wake of the Trump administration’s plans to impose tariffs on up to $60bn in annual imports from China in a bid to trim its trade deficit with the country.
Ex-HSBC Currency Trader Deserves Decade in Prison, US Says
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Ex-HSBC Currency Trader Deserves Decade in Prison, US Says – Bloomberg
US prosecutors say former HSBC Holdings currency trader Mark Johnson deserves a decade or more in prison based on his fraud conviction for front-running a $3.5 billion client order and lying on the witness stand at his trial. Read More
Bitcoin Spikes After G20 Expresses No Desire for Crypto Oversight
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Bitcoin Spikes After G20 Expresses No Desire for Crypto Oversight – Bloomberg
Bitcoin is rallying after the Group of 20 nations steered clear of calling for a coordinated clampdown on the cryptocurrency market.
Sterling Gains as Britain, EU Seal Brexit Transition Deal
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Sterling Gains as Britain, EU Seal Brexit Transition Deal – Reuters
Sterling surged as Britain and the European Union agreed to a 21-month post-Brexit transition period and a potential solution to avoid a “hard border” for Northern Ireland.
Fotheringhame Wins Unfair Dismissal Case Against Barclays
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Fotheringhame Wins Unfair Dismissal Case Against Barclays – Profit & Loss
Profit & Loss understands that David Fotheringhame, former head of automated flow trading at Barclays, has won his claim for unfair dismissal against the bank. Read More
NEX Group in CME’s Sights
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NEX Group in CME’s Sights – Profit & Loss
NEX Group has issued a statement confirming that it has received a preliminary approach from CME Group to acquire the company.
Senate Passes Bill Easing Banking Rules
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Senate Passes Bill Easing Banking Rules – Wall Street Journal (subscription)
Congress moved a step closer to relaxing the wave of crisis-era restrictions placed on the banking industry, with Senate approval of a bipartisan plan to ease rules for small and midsize banks.
Dollar Finds Support but Bulls Stay at Bay
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Dollar Finds Support but Bulls Stay at Bay – Financial Times (subscription)
The world’s reserve currency is rising in early European trade, but it remains caught between an uneasy political backdrop and uncertainty about the number of interest rate rises ahead in 2019.
Central Bank Cryptocurrencies Pose Stability Risk, Says BIS
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Central Bank Cryptocurrencies Pose Stability Risk, Says BIS – Financial Times (subscription)
Central bankers risk endangering the stability of the global financial system by jumping on the bitcoin bandwagon and launching their own digital currencies in an effort to destroy competition from rivals from outside the official sphere, the Bank for International Settlements has warned. Read More
Euro Gains, Dollar Drops, As Risk Appetite Revives
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Euro Gains, Dollar Drops, As Risk Appetite Revives – Reuters
The euro gained and the dollar dropped as last week’s strong US jobs numbers and receding fears over a trade war helped a rebound in risk appetite, with higher yielding currencies also performing well.