Daily FX Volumes Plunge in February After Volatile Start to Year – Reuters
Average daily volumes in the global foreign exchange market fell in February after soaring the previous month in the wake of Switzerland’s shock removal of its currency cap, data from FX settlement system CLS showed on Monday.
FX Committees to Unveil New Global Guidelines – Profit & Loss
A group of the leading FX market committees agreed upon a combined global code of conduct for the industry earlier this month, providing additional guidance around key topics such as sharing market colour and use of trading jargon.
No Room for Complacency on Euro’s Path – Wall Street Journal (subscription)
The US Federal Reserve has delivered an unpleasant jolt to one of 2015’s most popular trade ideas: the seemingly inexorable decline in the euro. Huge swings in the euro against the dollar – including a round trip from $1.06 to $1.10 and back in less than 24 hours – have shaken the market.
PMI Surveys Add to Euro Recovery – Reuters
The dollar was back under pressure on Tuesday after three days of frantic trading that have seen the first serious doubts in its nine-month march higher and some signs of more resilience around the euro.
Euro Extends Rebound on Eurozone’s Positive Data – Wall Street Journal (subscription)
The euro extended its rebound against the dollar amid signs the eurozone’s economic recovery gathered momentum in March.
Dealers Ease Stance on Naming Swap Counterparties – Reuters
Dealers could be starting to loosen their grip on the practice of revealing counterparty names on derivatives traded on swap execution platforms – an apparent reversal of sentiment that could ease the shift of over-the-counter swaps onto anonymous central limit order books, as Dodd-Frank envisaged.
SNB is Open to IMF Suggestion of Foreign Currency QE, Moser Says – Bloomberg
The Swiss National Bank is considering a form of foreign currency quantitative easing, as suggested by the International Monetary Fund.
China’s Premier asks IMF to Include Yuan in SDR Basket – Reuters
Chinese Premier Li Keqiang has asked the head of the International Monetary Fund to include China’s yuan currency in its special drawing rights basket.