A foreign exchange dealer for Citigroup who specialized in central and eastern European, Middle Eastern and African currencies has pleaded guilty to conspiring to fix currency prices.
Three British traders charged in New York with rigging foreign-exchange rates may struggle to avoid being sent to the US, as America’s appetite for extraditing UK targets shows no sign of waning, according to lawyers.
The Bank for International Settlements’ (BIS) Markets Committee has released its analysis of the 7 October 2016 “flash event”, arguing that a range of factors rather than a single driver catalysed the event.
Not that traders have little faith in Theresa May at the moment, but news that the prime minister will make a speech on the government’s plans for Brexit negotiations next week has sent expectations of big swings in the pound to their highest level in two months.
Asian stocks were mixed in the wake of a weaker dollar and declines on Wall Street overnight as investors continued to assess the fallout from Donald Trump’s irksome press conference on Wednesday.
China may have put a few short-term currency speculators to the sword last week, but long-term investors betting against the yuan are still standing and they carry much more firepower.
Mexico’s peso strengthened, rebounding from a fresh historic low hit in the previous session after President-elect Donald Trump warned US auto companies would face a high tax for products made south of the border.
Instead of spending its precious reserves to defend the peso, Mexico should just buy Twitter Inc. – at a cost of about $12 billion – and immediately shut it down.
Turkey’s president Recep Tayyip Erdogan has been in typically combative mood today, comparing foreign exchange traders to terrorists targeting the country after a record busting slide in the lira.
It’s not necessarily that extracting alpha in FX has become harder, but rather that the way it needs to be extracted is changing, said panellists at Profit & Loss’ Forex Network Chicago conference.
Market prepares for an episode in which all that is certain is uncertainty.
With Europe’s derivatives clearing landscape unclear following the UK Referendum, the US market could be the next destination for business.
Republican lawmakers who want to rein in Wall Street’s watchdogs aren’t waiting around for Donald Trump.
Bill is among first of several deregulatory measures congressional Republicans are expected to advance this year.
China has asked some banks to stop processing cross-border yuan payments until they balance inflows and outflows, people familiar with the matter said, as authorities step up a campaign to curb a record amount of money leaving the nation in the local currency.
Finance Minister Anton Siluanov said he did not think strong growth was needed for the rouble.
The Central Bank of Nigeria has no plans to devalue the naira, the head of a money changers’ body said after meeting policy makers.
No happy new year for the battered pound, if you ask Pacific Investment Management Co.
The Moscow Exchange has applied to the US derivatives regulator to be recognised as an equivalent foreign exchange, part of the Russian market’s plan to attract more overseas liquidity.
The expansion is part of Colt’s plan to invest significantly in Asia over the next three years.
Much like summer temperatures across the continent, the dollarydoo is running hot.
The Singapore dollar climbed to a one-month high this week as disappointment with US President-elect Donald Trump’s first press conference since July decked the greenback.
Kenya’s shilling is seen weakening against the dollar in the next week to Thursday, while the Nigerian naira is expected to strengthen, traders said.