Mexico Peso Trades at One-Month High After Presidential Debate
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Mexico Peso Trades at One-Month High After Presidential Debate – Bloomberg
The Mexican peso traded at a one-month high after Hillary Clinton and Donald Trump exchanged barbs in the second US presidential debate.
Meltdown as Cable Flash Crashes
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Meltdown as Cable Flash Crashes – Profit & Loss
The subject of liquidity is very much to the fore in foreign exchange markets again following what has been termed a “flash crash’ in Cable in early Asian trading.
- Flash Crash of the Pound Baffles Traders With Algorithms Being Blamed – Bloomberg
- Pound ‘Flash Crash’ Sees Sterling Plunge Six Percent Within Minutes – But Was It Due to a ‘Fat Finger’ Error? – Telegraph
- Cable Low in Dispute as Confusion Reigns – Profit & Loss
- Sterling Recoups Some Losses After 10 Percent Plunge – Reuters
- ‘Flash Crash’ for Pound to USD 1.14 is Surrounded in Mystery – Sky News
Barclays Trader Says He Was Thrown to Wolves Amid FX Scandal
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Barclays Trader Says He Was Thrown to Wolves Amid FX Scandal – Bloomberg
Barclays traders working on the “front-line” of the foreign-exchange market were sacrificed to satisfy regulators and save the reputations of senior executives, according to an employee fired amid the scandal. Read More
Foreign Exchange Revenue Boosts Trading Growth in Q2
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Foreign Exchange Revenue Boosts Trading Growth in Q2 – American Banker (subscription)
Bank trading revenue in the second quarter rose by more than 25% from a year earlier to $6.9 billion on rising combined interest rate and foreign exchange revenue, according a report issued by the Officer of the Comptroller of the Currency. Read More
Pound Drops to Lowest Since 1985 as Angst Builds Over Brexit
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Pound Drops to Lowest Since 1985 as Angst Builds Over Brexit – Bloomberg
The pound tumbled to its lowest level in three decades amid mounting concern the UK is heading for a so-called hard Brexit that would restrict access to the European Union’s single market.
Barclays FX ‘Superstar’ Trader Ashton Loses Dismissal Suit
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Barclays FX ‘Superstar’ Trader Ashton Loses Dismissal Suit – Bloomberg
A “superstar” Barclays trader fired amid the foreign-exchange market manipulation scandal lost his unfair dismissal case in London, three weeks after regulators banned him from the US banking industry.
MiFID II Expected to Cost Buy-Side Over $1 Billion
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MiFID II Expected to Cost Buy-Side Over $1 Billion – The Trade
Implementing MiFID II has been forecast to cost the financial industry a total of $2.1 billion in 2017, according to a recent report. Read More
ASIC Bans Rogue Deutsche Bank Trader for Life
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ASIC Bans Rogue Deutsche Bank Trader Andrew Donaldson for Life – Sydney Morning Herald
A former Deutsche Bank currency trader has been permanently banned from the industry after a series of false trades artificially boosted the bank’s revenue by 28 million euros.
Currenex Launches X2 Platform for Institutional Clients
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Currenex Launches X2 Platform for Institutional Clients – Profit & Loss
Currenex has launched a new trading platform, X2, designed in response to the changing liquidity profile of the FX market and the evolving requirements of institutional FX traders. Read More
Forex Markets Hand Debate to Clinton
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Forex Markets Hand Debate to Clinton – Financial Times (subscription)
Movements in the currency markets suggested Hillary Clinton emerged victorious in the US presidential debate over Donald Trump, with notable moves in the Mexican peso, Canadian dollar and Japanese yen.