EM Currency Index Hits Record High
Top Headlines
EM Currency Index Hits Record High – Financial Times (subscription)
A major index of emerging market currencies has hit its strongest level on record, as the dollar’s recent weakness magnifies the positive impact of wider optimism about global growth prospects. Read More
Ashton Loses Appeal Against FX Ban and Fine
Top Headlines
Ashton Loses Appeal Against FX Ban and Fine – Profit & Loss
The US Federal Reserve has refused to stay a motion issued last year that banned former Barclays FX trader Chris Ashton from the FX industry and fined him $1.2 million. Read More
Dollar Slips to Three-Year Lows on US Protectionism Worries
Top Headlines
Dollar Slips to Three-Year Lows on US Protectionism Worries – Reuters
The dollar slid to three-year lows against a basket of major peers on worries about the protectionist agenda expected to be pursued by US President Donald Trump in a speech later this week.
UK Pound Climbs Above $1.40 as Brexit Mood Improves
Top Headlines
UK Pound Climbs Above $1.40 as Brexit Mood Improves – Financial Times (subscription)
The pound has returned to the psychological level of $1.40, securing its return to levels it traded in the run-up to the Brexit vote and establishing the UK currency as one of the strongest performers so far in 2018.
FXPA Appoints John Shay as President
Top Headlines
FXPA Appoints John Shay as President – FXPA
The Foreign Exchange Professionals Association (FXPA) is pleased to announce the hire of John Shay as President of the organisation, a newly created role. Additionally, FXPA has hired Mercury Strategies, represented by Justin Slaughter, as its new legal counsel. Read More
HSBC Agrees to $101.5m US Forex Settlement
Top Headlines
HSBC Agrees to $101.5m US Forex Settlement – Financial Times (subscription)
HSBC has agreed to pay a $101.5m penalty in a settlement with the US Department of Justice over its attempts to manipulate foreign exchange markets, allowing the bank to avoid pleading guilty to criminal charges.
Dollar Bounces from Three-Year Lows as US Yields Rise
Top Headlines
Dollar Bounces from Three-Year Lows as US Yields Rise – Reuters
The dollar rose from a three-year low hit earlier in the day as a rise in US Treasury yields prompted some investors to buy the greenback but the market remained cautious on the outlook for the currency amidst a lack of price pressures.
US Charges Ex-Barclays NY Forex Head with Front-Running
Top Headlines
US Charges Ex-Barclays NY Forex Head with Front-Running – Bloomberg
The charges against Robert Bogucki relate to the manipulation of foreign-exchange options before a large trade by Hewlett-Packard in 2011, according to a Justice Department statement. Read More
Fired Barclays FX Trader Gives Court First Look at Last Look
Top Headlines
Fired Barclays FX Trader Gives Court First Look at Last Look – Bloomberg
David Fotheringhame says there was nothing wrong with the way he applied a tool that blocked some unprofitable currency trades to all clients, rather than just “toxic” ones.
Euro Holds Three-Year Highs as Dollar Weakens Further
Top Headlines
Euro Holds Three-Year Highs as Dollar Weakens Further – Reuters
The euro held at three-year highs against the dollar after last week’s surge, its rise fueled by growing expectations that the European Central Bank will tighten monetary policy, while the dollar weakened further.