Euro Rebounds After Hitting 21-Month Low on Italian Referendum Defeat
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Euro Rebounds After Hitting 21-Month Low on Italian Referendum Defeat – Reuters
The euro rebounded from 21-month lows, clawing back almost all the ground it had lost overnight after Italian Prime Minister Matteo Renzi conceded defeat in a referendum on plans to reform the country’s constitution and said he would resign.
Want to Opt Out of BARX Last Look Settlement? Your Deadline is March 30
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Want to Opt Out of BARX Last Look Settlement? Your Deadline is March 30 – Profit & Loss
Participants in a class action lawsuit that alleges Barclays abused last look on its proprietary trading platform BARX have until March 30 2017 to opt out of the proposed $50 million settlement. Read More
Transatlantic Cables May Keep FX Routed Through London Post-Brexit
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Transatlantic Cables May Keep FX Routed Through London Post-Brexit – Reuters
High-speed sub-Atlantic cables may force banks to keep their armoury of currency trading hardware in London for some time, even if the dealers themselves go elsewhere when Britain leaves the European Union. Read More
Trump, Rising US Yields Knock Asia FX in November
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Trump, Rising US Yields Knock Asia FX in November – Reuters
Emerging Asian currencies were set to post monthly losses in November after Republican Donald Trump’s surprise US election win inspired a rousing rally in the dollar. Read More
FINRA Seeks Quicker Process on Disruptive Quoting
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FINRA Seeks Quicker Process on Disruptive Quoting – Profit & Loss
The US Financial Industry Review Authority has filed a notice with the Securities and Exchange Commission that will enable it to clamp down on what it considers “disruptive quoting and trading activity” much quicker than is currently possible. Read More
Investor Who Backed Brexit Sees Euro Breaking Up Within Five Years
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Investor Who Backed Brexit Sees Euro Breaking Up Within Five Years – Bloomberg
Now there’s growing speculation Italy’s referendum in December and the elections in France in 2017 might result in more political upsets in Europe, causing some investors to question the future of the euro. Read More
ANZ Bank and Macquarie Admit to Attempted Rigging in Malaysia
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ANZ Bank and Macquarie Admit to Attempted Rigging in Malaysia – Sydney Morning Herald
ANZ Bank and Macquarie Group have admitted their traders tried to rig a key benchmark rate in Malaysia’s foreign exchange markets, breaking cartel laws and resulting in multimillion-dollar fines.
Dollar Juggernaut Still Rolling On: Strongest in Nearly 14 Years
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Dollar Juggernaut Still Rolling On: Strongest in Nearly 14 Years – Financial Times (subscription)
The buck is not backing down, with the dollar index, which tracks its value against a basket of other major currencies, now up at its strongest level since March 2003.
Sterling Inches Lower Before Budget Statement
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Sterling Inches Lower Before Budget Statement – Reuters
Sterling dipped by a quarter of a percent against the dollar and was marginally weaker against the euro ahead of a government budget statement expected to deliver only marginal additional support for an economy facing more Brexit-based volatility next year.
- Philip Hammond to Ease Cuts as Watchdog Reveals Size of Brexit Black Hole – The Telegraph
- British Pound Tests Downside Against Dollar, Euro and Other Currencies Ahead of First Post-Brexit Budget – Exchange Rates
- Pound Declines Against Dollar and Euro Ahead of Autumn Statement – International Business Times
CFTC Collects $1.3 Billion from Enforcement Actions
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CFTC Collects $1.3 Billion from Enforcement Actions – Profit & Loss
The Commodity Futures Trading Commission says in financial year 2016 it filed 68 enforcement actions, which addressed a sweeping range of misconduct and market harm, and obtained orders totalling approximately $1.29 billion in restitution, disgorgement, and penalties. Read More