The Problem With the World’s Most Obvious Trade
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The Problem With the World’s Most Obvious Trade – Wall Street Journal (subscription)
This week should provide the perfect opportunity for betting on a stronger dollar, but not so fast. Read More
Pound’s Biggest Gain Since 2009 Signals `Brexit’ Anxiety Easing
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Pound’s Biggest Gain Since 2009 Signals `Brexit’ Anxiety Easing – Bloomberg
Easing anxiety over Britain’s potential exit from the European Union may be complemented next week by signs of a stronger U.K. economy, supporting the pound further after its best week since 2009 against the dollar.
Yen Stalls in Time to Avoid Intervention, Ex-Currency Boss Says
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Yen Stalls in Time to Avoid Intervention, Ex-Currency Boss Says – Bloomberg
The yen’s strongest gain since 2008 has petered out in time to forestall any intervention, according to Takatoshi Kato, a former top currency official at the Ministry of Finance.
FCA Bans Former Deutsche Bank Trader for Manipulating U.S. Dollar Libor Submissions
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The Financial Conduct Authority said on Wednesday that it has banned former Deutsche Bank AG trader Michael Ross Curtler for his part in a conspiracy to manipulate the bank’s U.S. dollar Libor submissions.
U.S. Treasury Secretary Sees Reduced Risk of Currency Devaluations
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Commitments by China and other major economies over the weekend have lowered the threat of currency depreciations that could fuel global market turmoil, U.S. Treasury Secretary Jacob Lew said Tuesday.
ICE Confirms It May Bid for LSE Group, Sending Shares to Record
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ICE Confirms It May Bid for LSE Group, Sending Shares to Record – Bloomberg
Intercontinental Exchange Inc. said it is considering making an offer for London Stock Exchange Group Plc, a week after Deutsche Boerse AG said it was in merger talks with the U.K. company.
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G-20 Affirms No-Devaluation Pledge, to Consult on Currencies
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G-20 Affirms No-Devaluation Pledge, to Consult on Currencies – Bloomberg
Finance chiefs from the Group of 20 agreed to consult closely on foreign exchange markets and reiterated past pledges to refrain from competitive devaluations.
Deutsche Bank Gets All Clear from German Watchdog Over Triple Probes
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China Seeks to Reassure Trading Partners on FX, Markets Ahead of G20
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Sterling Hits 7-Year Low as Brexit Concerns Intensify
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Sterling Hits 7-Year Low as Brexit Concerns Intensify – Reuters
The British pound traded near $1.39 for the first time in seven years on Wednesday, while the cost of hedging against sharp swings jumped to their highest in more than four years as concerns that Britons could leave the European Union deepened.