The US Commodity Futures Trading Commission (CFTC) has fined Société Générale $450,000 for failures in the reporting of certain FX transactions.
The pound has fallen 0.6 per cent against the dollar, marking its worst run since mid-November after a grim set of numbers on the state of UK industry were released.
The US dollar declined as Treasury bond yields eased and investors looked ahead to next week’s Federal Reserve meeting, when the US central bank is expected to raise interest rates but adopt a cautious tone on the economy.
- Dollar Eases Against Euro Ahead of Central-Bank Decisions – Wall Street Journal (subscription)
- Pause in Dollar Strength is Merely a Consolidation – Financial Times (subscription)
The greenback is set to weaken as the US government under Donald Trump increases spending on defense and infrastructure, Mobius, executive chairman of Templeton Emerging Markets Group, said.
Individuals and households are the biggest threat to the yuan now, because they can easily be influenced by short-term volatility, according to Xia Le, a Hong Kong-based economist at Banco Bilbao Vizcaya Argentaria.
Gains for Brazil’s real, South Africa’s rand and Turkey’s lira lifted an index of emerging-market currencies for a fourth day. Stocks advanced on optimism European policy makers will extend a stimulus program likely to boost demand for exports.
Sentiment towards emerging Asian currencies became less bearish in the last two weeks, a Reuters poll showed, as the dollar pulled back from a sharp rally that followed Republican Donald Trump’s surprise win in last month’s US election.
Emerging market countries and corporations that have been binging on cheap dollar debt for more than a decade now face a spike in servicing costs and elevated debt burdens.
It’s a case of bad things come in threes for gold, the Japanese yen and government bonds, which have been dumped over the past month as investors spurn haven assets.
Pension and sovereign wealth funds across the globe are refining their foreign exchange risk management.
Egyptian President Abdel Fattah al-Sisi said that the country’s currency, the pound, was not valued fairly against the dollar but the exchange rate would reach equilibrium after a few months.
Sounds unbelievable – but that’s what the official Herald newspaper claimed hours after President Robert Mugabe resolutely avoided the vexed topic of bond notes in his State of the Nation Address.
In many countries, Malaysia included, bitcoins are not accepted as a fiat currency.
French regulator warns of mounting competition between countries and regulators as large banks look to depart from London.
No need to dump central clearing and electronic trading mandates, market participants say.
The Federal Tax Service of the Russian Federation released a document last week describing the status of digital currency such as bitcoin in the country.
Data from Société Générale Prime Services reveals that the majority of its CTA indices show that these firms continued to post negative returns during November.
Icap held its 24th annual global Charity Day today, with 100% of company revenues and commissions for the day being donated to a selection of over 200 charities around the world.
Leap Rate has learned that Ireland-based FX central clearing provider FXCH, which uses Blockchain to settle FX trades, is trying to raise €8.5 million (USD $9.1 million), at a pre-money valuation of €20 million.
New Zealand’s dollar was the biggest gainer among major currencies, rising 0.7 percent after a speech by Reserve Bank Governor Graeme Wheeler added to speculation the bank would raise interest rates next year.
A rally in the Turkish lira is gaining momentum after patriotic calls from the country’s president for citizens to step up the battle against foreign exchange “speculators”.
The Brazilian real strengthened as concerns eased that the ouster of Senate President Renan Calheiros could potentially delay the approval of fiscal measures.