China Seeks to Reassure Trading Partners on FX, Markets Ahead of G20 –Reuters
Chinese policymakers on Thursday ruled out an imminent devaluation of the yuan as they seek to reassure trading partners ahead of the G20 summit that they can manage market stability while driving structural reforms.
Sterling Plunges vs Dollar on Brexit Fears; Yen Up Broadly – Reuters
Sterling tumbled to a seven-year low against the dollar on Wednesday on heightened fears of a possible British exit from the European Union, while mixed risk appetite drove the yen broadly higher.
Supersized Currency on Europe’s Fringes Defies Big Banknote Clamor –Bloomberg
As some of the biggest central banks debate the future of their high-denomination bills, a former Soviet republic stranded between Russia and the European Union is about to increase the value of its biggest banknote 25-fold.
Argentina Nears $5B Settlement In Default Saga – Law360 (subscription)
Argentina is near a $5 billion settlement with creditors including NML Capital and Aurelius Capital Partners that would resolve 15-year old litigation over the country’s debt default, an attorney for the firms told the Second Circuit on Wednesday.
IMF Report Urges G20 to Prepare Global Economic Stimulus Plan – Reuters
The Group of 20 nations must plan now for a coordinated stimulus program to keep a slowing global economy from stalling, International Monetary Fund staff said in a report on Wednesday.
ISDA Publishes Principles for US/EU Trading Platform Recognition
The International Swaps and Derivatives Association, Inc. (ISDA) today published a set of principles for achieving comparability determinations between US and European Union (EU) trading platforms.
How Long Before the Cracks Show in China’s Great Currency Wall? – Reuters
China still owns the world’s largest currency reserves, but it has been burning through them at such a pace that some think Beijing might soon have to allow a sharp fall in the yuan or back-pedal on liberalization and tighten its capital controls.