Top Headlines 

Currency-Rigging Scandal Leaves $2 Billion Up for Grabs – Bloomberg

Currency investors risk leaving money on the table if they don’t submit claims on a $2.1 billion pot of settlement money paid by banks accused of rigging foreign-exchange rates.

Dollar Extends Rally Ahead of Key Data – Wall Street Journal (subscription)

Softening worries about North Korea and Hurricane Irma damping demand for the safe-haven yen play.

How the Dollar’s Weakness Is the Rest of the World’s Problem – Financial Times (subscription)

Forex markets pose a threat to a synchronised recovery needed to validate stock prices.

Sterling Retreats from One-Year High After UK Wage Growth Miss – Reuters

Sterling fell back from a one-year high to trade flat against the dollar, after wage growth data in Britain came in weaker than expected.

China’s Campaign to Control Yuan Shifts to Limiting Strength – Bloomberg

PBOC seen needing to change tactics as yuan direction reversed.

E-FX Trading Sees Plateau – Markets Media

The impressive adoption of e-trading in FX over the past decade stands out not only versus other asset classes, but also because it has developed via natural market demand and not regulatory mandate.

Bitcoin Tops Nasdaq in Survey of World’s Most Crowded Trade – Financial Times (subscription)

Ominous omen? Bitcoin, the crypto currency that has exploded higher this year, has overtaken the also-buoyant Nasdaq Composite as the world’s most crowded trade, according to a closely watched survey released.

Another Year to Forget Looms for Investment Banks – Wall Street Journal (subscription)

Another recovery in investment banking looks to be evaporating before investors’ eyes.

Wall Street Leaders Voice Support for Donald Trump – Financial Times (subscription)

Donald Trump may have lost his business advisory panel but the US president has not entirely lost Wall Street.

Regulatory News 

Juncker’s Euro Vision Contest – Financial Times (subscription)

European Commission president prepares to deliver State of the Union speech. 

Meet the SEC Nominees: One Opposes the DOL Fiduciary Rule, One Is a Blank Slate – Investment News (subscription)

Republican Hester Peirce and Democrat Robert Jackson seek to fill two vacancies on the commission. 

How Much Have Banks Really Cut Their Risks? – Bloomberg

The Trump administration is looking to ease financial-strength requirements for big banks, on the grounds that they’ve already done enough to avert another crisis. But how much safer have they really become?

‘Not Scared’: Australian Regulator Takes Aim at Country’s Powerful Banks – Reuters

Australia’s corporate regulator took aim at the nation’s four major banks, saying the powerful institutions “with a lot of hubris” aren’t used to being taken on by regulators who have stepped up scrutiny of the scandal-hit sector.

Japan to Begin Supervision of Cryptocurrency Exchanges – Nikkei Asian Review

Financial watchdog flying blind in brave new world of virtual currencies.

Company News

CME Chief, Eyeing Europe, Says Dodd-Frank Was Best Thing for Markets – Reuters

US regulations enacted after the financial crisis will likely be revisited and watered down but not eliminated in their entirety, in part because they give much-needed clarity to market participants, the head of CME Group said.

Managed Futures Report Second Month of Gains – Profit & Loss

Managed futures traders showed gains of 1.87% in August, according to a flash estimate of the BarclayHedge BTOP50. For the year-to-date period, the index is down 2.39%.

ISAM Announces New Structure – Profit & Loss

ISAM (Isam) has set up ISAM Capital Markets – a holding company consisting of IS Prime, IS Prime Hong Kong and IS Risk Analytics (ISRA).

Edgewater Expands South American Presence – Profit & Loss

Edgewater Markets has launched a new South American operation based in Santiago, Chile, that will be headed up by Jose Antonio Buenaño.

BSO Reduces London-Tokyo Latency – Profit & Loss

Global network provider BSO has optimised the speed across its London to Tokyo route. 

Market Savvy

Most Asian Currencies Gain as Equities Shine, Yuan Bounces – Reuters

Most emerging Asian currencies brushed off the recent dollar rally and edged higher the Chinese yuan rebounded from three straight sessions of losses and Asian shares inched up to a 10-year high.

CEE Markets: Leu Steady After Lower-Than-Expected CPI Data – Reuters

The Romanian leu held steady after lower-than-expected inflation data, which confirmed that the pace of price growth across the region remains moderate.

Bitcoin at Three-Week Low After Dimon Calls Currency a ‘Fraud’ – Financial Times (subscription)

The blows keep on coming for bitcoin. The crypto currency dropped to a three-week low after Jamie Dimon and other big names in the financial industry issued wary remarks about bitcoin’s surge this year.