Euro Perched at One-Week Highs Before ECB Vote
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Euro Perched at One-Week Highs Before ECB Vote – Reuters
The euro held near a one-week high before a European Central Bank meeting where policymakers are expected to outline a scaling back of bond-purchase, with analysts expecting a pause in the euro’s rally in the absence of any hawkish surprises. Read More
Ex-HSBC Trader’s Guilt Casts Shadow Over Colleague’s Extradition
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Ex-HSBC Trader’s Guilt Casts Shadow Over Colleague’s Extradition – Bloomberg
The fraud conviction of a former HSBC Holdings executive by a US jury may be a harbinger of what’s to come for London colleague Stuart Scott, as a judge prepares to rule on his extradition to face the same charges this week. Read More
Ex-HSBC Currency Trader Convicted of Fraud for Front-Running
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Ex-HSBC Currency Trader Convicted of Fraud for Front-Running – Bloomberg
Former HSBC Holdings currency trader Mark Johnson was found guilty of fraud for front-running a $3.5 billion client order, a victory for US prosecutors as they seek to root out misconduct in global financial markets.
Yen Weakens to Nearly ¥114 Per Dollar After Abe Election Victory
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Yen Weakens to Nearly ¥114 Per Dollar After Abe Election Victory – Financial Times (subscription)
The yen was visibly weaker in Asia, flirting with the ¥114 per dollar mark in the wake of Prime Minister Shinzo Abe’s resounding weekend victory at the polls.
Dollar Gets a Boost as ‘Trumpflation’ Bets Return
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Dollar Gets a Boost as ‘Trumpflation’ Bets Return – Reuters
The US dollar climbed, on track for its first weekly rise in two, as progress of the US tax plan through the Senate raised hopes of a fiscal boost to the economy, though the lack of inflationary pressures checked gains.
Euro at Three-Day High, Eyeing Catalonia Stand-Off
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Euro at Three-Day High, Eyeing Catalonia Stand-Off – Reuters
The euro climbed to a three-day high on hedging-related demand from bond investors before a European Central Bank policy meeting next week, though political uncertainty around Catalonia crimped gains. Read More
EU Commissioner Rules Out Mifid II Deadline Extension
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EU Commissioner Rules Out Mifid II Deadline Extension – Financial Times (subscription)
The EU’s top financial services official has ruled out any further extension of the January 3, 2018 deadline for markets to comply with a sweeping overhaul of trading rules.
Ex-HSBC Trader Calls US Too ‘Aggressive’ in Front-Running Case
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Ex-HSBC Trader Calls US Too ‘Aggressive’ in Front-Running Case – Bloomberg
HSBC’s former head of currency trading in London made at least $500,000 in commissions by front-running a multi-billion-dollar deal that betrayed the bank’s duty to its client, according to US prosecutors.
EU and US Agree to Accept Each Other’s Derivatives Rules
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EU and US Agree to Accept Each Other’s Derivatives Rules – Financial Times (subscription)
The US and EU have taken a big step towards harmonising the global rules for derivatives trading, by reaching a long-sought agreement to accept the validity of each other’s regulations in the multibillion dollar market. Read More
Sterling Jumps to 10-Day High on Report of Possible Brexit Transition Offer
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Sterling Jumps to 10-Day High on Report of Possible Brexit Transition Offer – Reuters
Sterling rose to a 10-day high, boosted by a report in Germany’s Handelsblatt newspaper that the European Union could offer Britain a two-year transitional Brexit deal.