Dollar Tumbles Against Yen After Health Bill Failure
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Dollar Tumbles Against Yen After Health Bill Failure – Wall Street Journal (subscription)
The US dollar fell to its lowest level against the yen since late November as the House Republicans’ failure to pass its long-promised health-care bill gave investors another cue to buy other major currencies.
Malaysia’s Central Bank Plans to Name and Shame Errant Lenders
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Malaysia’s Central Bank Plans to Name and Shame Errant Lenders – Bloomberg
Malaysia’s central bank will crack down on wrongdoing in the foreign-currency market, such as fixing of the exchange rate, to ensure stability in the ringgit, Governor Muhammad Ibrahim said. Read More
Pound Jumps After UK Retail Sales Trounce Forecasts
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Pound Jumps After UK Retail Sales Trounce Forecasts – Financial Times (subscription)
The pound has popped higher (+0.34 per cent on the day at $1.2525) after new data from the Office for National Statistics suggested the UK consumer can’t be beaten quite as easily as some have feared. Read More
Dollar Hits Four-Month Low vs Yen on ‘Trumpflation Trade’ Rethink
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Dollar Hits Four-Month Low vs Yen on ‘Trumpflation Trade’ Rethink – Reuters
The dollar hit a four-month low against the safe-haven yen as a risk-off mood grew in markets rethinking the “Trumpflation trade” that had pushed the greenback to a 14-year peak and stocks to record highs.
Deutsche Bank Said to Face Regulatory Fines Over Currency Trades
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Deutsche Bank Said to Face Regulatory Fines Over Currency Trades – Bloomberg
Deutsche Bank is expected to be fined by the Federal Reserve and New York’s Department of Financial Services for its conduct in the foreign exchange market, a person familiar with the matter said.
ACI Commits Members to FX Global Code
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ACI Commits Members to FX Global Code – Profit & Loss
ACI – The Financial Markets Association has announced it is mandating its 9,000 members to explicitly commit to the FX Global Code of Conduct, the complete version of which will be released on May 25. Read More
Two More Australian Banks Settle FX Claims
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Two More Australian Banks Settle FX Claims – Profit & Loss
ANZ and Westpac have both accepted enforceable undertakings from the Australian Securities and Investment Commission (ASIC) relating to control failures in their global FX businesses. Read More
US Dollar Comes Under Pressure After Fed Holds Rate Forecast Steady
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US Dollar Comes Under Pressure After Fed Holds Rate Forecast Steady – Financial Times (subscription)
The US dollar skidded after the Federal Reserve raised rates, but left unchanged its expectations for further increases this year.
Trump to Nominate CFTC Acting Head Giancarlo as Permanent Chairman
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Trump to Nominate CFTC Acting Head Giancarlo as Permanent Chairman – Reuters
President Donald Trump plans to nominate J. Christopher Giancarlo to lead the Commodity Futures Trading Commission, the regulator tasked with policing the massive over-the-counter derivatives market, the White House said. Read More
Pound Tumbles in Delayed Reaction as May Gets Brexit Go-Ahead
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Pound Tumbles in Delayed Reaction as May Gets Brexit Go-Ahead – Bloomberg
The pound tumbled against all of its Group-of-10 peers as London traders sold the currency after UK Prime Minister Theresa May was given the go-ahead to trigger Brexit.