Top Headlines

Currency Markets Keep Wary Eye on Trade Troubles – Reuters

Foreign exchange markets trod water, with investors seemingly unable to make up their minds about any wider fallout from a Sino-US trade dispute, though the safe-haven Japanese yen gained versus the dollar.

Dollar Sags Versus Yen as Trade Tensions Dim Outlook – Reuters

The dollar eased against the yen, with the outlook clouded by worries that escalating US-China trade tensions could exert a toll on the global economy and US growth.

Sterling Climbs Against Dollar Despite Weak UK Construction Data – Reuters

Weak British construction industry data failed to halt sterling’s four-day rally against the dollar, as investors focused on an expected interest rate hike in May.

Why April Showers the Pound with Good Fortune – Bloomberg

Sterling rose against dollar every April during last 13 years.

Peter Navarro Says Trump’s Trade Policies Are ‘Good for the Market,’ but Economists Aren’t Buying It – CNBC

As markets plummeted, White House aide Peter Navarro insisted fears of a trade war and President Donald Trump’s attacks on Amazon were all wrong.

Clearing Will “Mostly Likely” Move to US: UK Government – FOW (subscription)

EU27 clearing activity in UK CCPs is relatively small, according to LSEG data.

The One Part of the City Jobs Market Not Hurt by Brexit – Financial News

With firms feeling regulatory pressure, pockets of frantic hiring in compliance are expected to continue this year.

US Firms Not Ready for GDPR – Markets Media

Time is ticking down for US-based firms to prepare to meet the demands of the EU’s General Data Protection Regulation, which goes into full effect on May 25.

Curbing Rogue Behaviour – Risk (subscription)

Regulators should try to combat rogue trading by measuring traders’ risk-taking differently, say quants.

Crypto Exchanges Charge Millions to List Tokens, Report Says – Bloomberg

Entrepreneurs are finding their of dreams easy crypto financing come at a high price.

Regulatory News 

Williams Named New NY Fed President – Profit & Loss

John Williams has been named president and chief executive officer of the Federal Reserve Bank of New York, following his appointment being approved by the Board of Governors of the Federal Reserve System.

Brainard Says Valuations Elevated, Bitcoin Volatility ‘Extreme’ – Bloomberg

Asset valuations are stretched across a broad set of financial markets and some cryptocurrencies have witnessed “extreme volatility,” Federal Reserve Governor Lael Brainard said, though overall risks to the financial system are still low.

SEC Adds to Its Crypto Quiver – Markets Media

The US Securities and Exchange Commission has turned to blockchain analytics vendor CipherTrade to help shed light on cryptocurrency transactions on blockchains.

Why Elizabeth Warren’s Effort to Hold Bank Executives Accountable May Fall Short – The New York Times

Prosecuting a bank is easier than proving an individual committed a crime.

Company News

Mitsui & Co Settles Trades Via CLS – Profit & Loss

Japanese corporation Mitsui & Co has become the first corporate to join CLS Settlement via third party access, the firm is now settling its FX transactions via Sumitomo Mitsui Banking Corporation (SMBC).

Bloomberg Announces Philippines FX Initiatives – Profit & Loss

The Bankers Association of the Philippines (BAP) and Bloomberg have announced a series of new initiatives aimed at furthering the growth of the FX market in the Philippines.

Aston Capital Management Gets Swap Dealer Status – Profit & Loss

Aston Capital Management is now a provisionally registered US Swap Dealer.

Saxo Bank Releases New Institutional FX Platform – Profit & Loss

Saxo Bank has launched a new version of its institutional trading platform, dubbed SaxoTraderPRO, which is aimed at active traders and institutional clients.

Duco Appoints Dyrberg as COO – Profit & Loss

Data engineering company Duco has named Mireille Dyrberg as chief operating officer, assuming responsibility for customer success, all administrative functions, finance and legal.

Market Savvy

Most Currencies Firm as US-China Trade Tensions Pressure Dollar  – Reuters

Most emerging Asian currencies edged higher as the dollar was shackled by worries that escalating US-China trade tensions could dent global growth and drag on the US economy.

Trump Pushing for Preliminary Nafta Deal by Mid-April, Sources Say – Bloomberg

The Mexican peso trimmed its losses on news of the meetings, rallying from a session low 18.355 per U.S. dollar toward 18.2.