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.
- Foreign Exchange, Bonds Steady Despite Escalating US-China Trade Tension – Financial Times (subscription)
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.
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.
Sterling rose against dollar every April during last 13 years.
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.
EU27 clearing activity in UK CCPs is relatively small, according to LSEG data.
With firms feeling regulatory pressure, pockets of frantic hiring in compliance are expected to continue this year.
- So Far So Good: Financial Firms Commit to London Despite Brexit Concerns – Wall Street Journal (subscription)
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.
Regulators should try to combat rogue trading by measuring traders’ risk-taking differently, say quants.
Entrepreneurs are finding their of dreams easy crypto financing come at a high price.
- Coinbase Snags a Former New York Stock Exchange Exec to Push Crypto to Wall Street – Business Insider
- Coincheck, Roiled by Hack, Might Have Found Its White Knight – Wall Street Journal (subscription)
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.
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.
The US Securities and Exchange Commission has turned to blockchain analytics vendor CipherTrade to help shed light on cryptocurrency transactions on blockchains.
Prosecuting a bank is easier than proving an individual committed a crime.
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).
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 is now a provisionally registered US Swap Dealer.
Saxo Bank has launched a new version of its institutional trading platform, dubbed SaxoTraderPRO, which is aimed at active traders and institutional clients.
Data engineering company Duco has named Mireille Dyrberg as chief operating officer, assuming responsibility for customer success, all administrative functions, finance and legal.
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.
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.