Pound Sterling Hits New 31-Year-Low Ahead of Theresa May’s Brexit Speech
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Pound Sterling Hits New 31-Year-Low Ahead of Theresa May’s Brexit Speech – Independent
The currency slumped to more than a three-decade low, excluding the flash crash on 7 October.
Citi Foreign Exchange Dealer Pleads Guilty to US Rate-Fixing Charge
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Citi Foreign Exchange Dealer Pleads Guilty to US Rate-Fixing Charge – Reuters
A foreign exchange dealer for Citigroup who specialized in central and eastern European, Middle Eastern and African currencies has pleaded guilty to conspiring to fix currency prices. Read More
Trump Policy Vacuum Sends Dollar Skidding Lower
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Trump Policy Vacuum Sends Dollar Skidding Lower – Reuters
The dollar sank to a five-week low below 114 yen and was on course for its worst week since November, hit by a loss of confidence in the US reflation trade which has dominated markets since Donald Trump’s election.
Cartel Members Indicted in US
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Cartel Members Indicted in US – Profit & Loss
The US Department of Justice has announced that a Federal grand jury has returned an indictment against three members of the infamous Cartel chat room that allegedly conspired to manipulate FX markets.
CFTC Issues $11.6m Fine for FX Fraud Scheme
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CFTC Issues $11.6m Fine for FX Fraud Scheme – Profit & Loss
The US Commodity Futures Trading Commission (CFTC) has issued an $11.6 million fine in response to a FX fraud scheme. Read More
Second Barclays Trader Loses Unfair Dismissal Case
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Second Barclays Trader Loses Unfair Dismissal Case – Profit & Loss
Mark Clark has become the second former Barclays FX trader to lose a claim for unfair dismissal in a UK employment tribunal.
As Big Banks’ FX Case Ends, Judge Urges Probe of Traders
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As Big Banks’ FX Case Ends, Judge Urges Probe of Traders – Bloomberg
A federal judge urged US authorities to pursue prosecutions against individuals as part of their investigation into the manipulation of currency markets as he accepted penalties against four of the world’s largest banks. Read More
Ex-Barclays Trader Pleads Guilty in US in Forex Probe
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Ex-Barclays Trader Pleads Guilty in US in Forex Probe – Reuters
A former Barclays trader pleaded guilty to US charges arising from a global investigation into the manipulation of foreign-exchange prices at major banks, the US Department of Justice said.
Massad Officially Resigns as CFTC Chair
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Massad Officially Resigns as CFTC Chair – Profit & Loss
Timothy Massad has tendered his resignation as Chairman of the US Commodity Trading Commission (CFTC) to President Barack Obama, effective on January 20, 2017. Read More
Markets Start 2017 on Bright Note
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Markets Start 2017 on Bright Note – Financial Times (subscription)
Markets are in an upbeat mood for the first session of 2017, looking to revive the post-US election rally that took Wall Street and London stocks to record levels and forced government bond yields to multi-month peaks toward the end of last year.