Deutsche Bank is expected to be fined by the Federal Reserve and New York’s Department of Financial Services for its conduct in the foreign exchange market, a person familiar with the matter said.
The Monetary Authority of Singapore (MAS), has directed Singapore Exchange (SGX) to implement measures to enhance its recovery processes and operational resilience.
The US dollar is being hit by investor reaction to the Federal Reserve’s measured policy tone and concerns over the Trump administration’s protectionist trajectory and the legislative obstacles it faces.
- Dollar Slips on Doubts Fed Will Speed Rate Hikes, Euro Edges Up – Reuters
- Dollar Slips Against Emerging-Market Currencies – Wall Street Journal (subscription)
Sterling jumped almost one percent to its highest level in three weeks, after data showed British inflation in February above the Bank of England’s two percent target for the first time since the end of 2013.
The euro is flirting with its highest level of the year as it takes advantage of a softening dollar and easing concerns about the eurozone’s political climate.
Reuters historic polling data shows all of the currency world’s top ten banks have now been forced substantially to back off the forecasts of a swift drop below parity which have been widespread since the dollar rallied strongly in late 2014.
RBC Capital Markets, in its Trade of the Week note, reckons the euro’s run has further to go as fiscal and monetary factors offer the loonie, as the Canadian unit is known, little support.
Mexico’s peso firmed to its strongest since Donald Trump clinched the US presidency in November, tracking Latin American currencies higher after the US Federal Reserve signalled it would hike rates gradually.
The Brazilian real strengthened to a four-week high on hopes of strong capital inflows after a successful airport auction and in anticipation of US interest rates rising slowly in coming months.
FX buy-siders aren’t convinced of the risk-management potential of stop-loss orders, after many were disappointed with results following big swings in volatility last year.
The rise of algo trading and passive investing is bringing new patterns and pitfalls.
Perhaps it’s just the typical grousing of community elders, but last week, the Bank for International Settlements said there may be something to the notion.
Finance chiefs of the Group of 20 nations renewed their pledge to finalize an overhaul of global bank-capital rules, but stopped short of making progress on certain proposals that have led to a standoff between Europe and the US.
The European Central Bank has urged Brussels to toughen up its sanctions procedure against governments who persistently fall foul of its economic rules, as it noted that over 90 per cent of reform recommendations had been ignored by member states last year.
Christopher Giancarlo, head of the US Commodity Futures Trading Commission, said blockchain technology “offers a great deal of promise” as an eventual solution to failures in creating a global swaps data repository network.
Richard Brenner, head of the US Office for Financial Research, has called for legal entity identifiers to be mandatory in regulatory reporting.
Cross-border exchange mergers are increasingly hard to pull-off due to increasing regulatory divergence across different regional markets.
Changes to allow over-collateralisation by buy-side clearers should ease FCMs’ funding burden.
As many as 10% of European corporations could move all operations out of London as a consequence of Brexit, a survey from Swiss banking giant UBS suggests.
Bitcoin regained its footing, having suffered its heftiest falls since early 2015 between Thursday and Saturday as investors sold the digital currency on worries about its future.
Some Asian currencies weakened slightly as investors looked for fresh cues following the currencies’ big gains last week on the US Federal Reserve’s moderately dovish stance.
The dollarydoo was down 0.2 per cent at $0.7715 in early European trade, but had dropped by as much as 0.4 per cent after the minutes from the RBA’s March meeting warned of a “build-up of risks associated with the housing market”.
The Canadian dollar weakened against its US counterpart as lower oil prices offset strong domestic wholesale trade data, while investors weighed the G20’s decision to drop a pledge to resist trade protectionism.