Citi Ready to Plead Guilty to FX Antitrust Charge? – Profit & Loss (free story)
Citi could be ready to plead guilty to an antitrust charge in order to help resolve one of the ongoing FX lawsuits against the bank.
Big Banks Finalise $6 Billion-Plus Settlements on Foreign Exchange –Financial Times (subscription)
Five of the world’s biggest banks are finalising agreements to collectively pay more than $6 billion for allegedly manipulating foreign exchange markets, with an announcement expected as soon as Wednesday.
Barclays’ Forex Accord May Involve Job Terminations: NY’s Lawsky – Reuters
Barclays’ upcoming settlement of regulatory charges into whether it manipulated foreign exchange rates is likely to result in the termination of employees, New York state’s banking regulator said on Monday.
BP Trader Said to Be Put on Leave Amid ‘Cartel’ Currency Probe – Bloomberg
A senior currency trader at BP has been placed on leave after conversations emerged linking employees at the oil giant to an online chat room used by the world’s biggest banks to rig the foreign exchange market.
Asian Currencies Hit by Bond Market Turmoil – Wall Street Journal(subscription)
Currencies in emerging Asia hit their weakest in months after days of grinding lower, as bond markets reverse gains and fresh signs of sluggish growth in the global economy appear.
Sterling’s Election Surge Expected to be Short-Lived – Profit & Loss (free story)
Despite a Sterling jump on Thursday evening after a BBC exit poll indicated a surprise outcome in the UK general elections, market analysts believe that the rally will be short-lived as the currency markets settle down to business as usual.
China Adopts IMF Accounting Practice in Reserve Currency Push – Bloomberg
China adopted the International Monetary Fund’s standards for its latest balance of payments data as the nation seeks to obtain reserve-currency status for the yuan.