The dollar edged higher against a basket of currencies as investors consolidated positions after a recent rise, with minutes from the European Central Bank’s latest meeting likely to be the key event of the day.
Sterling took a fall, slipping against both the dollar and the euro, after a calamitous speech by prime minister Theresa May boosted political uncertainty.
- Political Uncertainty Prods Sterling to Three-Week Lows – Reuters
- Pound Falls to Three-Week Low as May Speech Fuels Tory Rebels – Bloomberg
A representative of Cairn Energy has denied knowing HSBC bankers would trade ahead of their multi-billion foreign exchange order, stating the bank would not have won the mandate to carry out the transaction had the corporation known.
The European Commission (EC) has backed new powers for the European Central Bank (ECB) to have greater oversight of the euro clearing industry, a key topic of Brexit negotiations.
Whether Donald Trump follows through on announcing a new Federal Reserve chair in the coming weeks or not, traders across financial markets have already tipped their hands.
There’s no getting around the fact that regulation has changed the economics of the FX prime brokerage (FXPB) business, and not for the better.
Disruption is generally a positive thing, but it needs to be positive and not just an opportunity for the lowest bidder.
While the firm isn’t sure exactly when the so-called Great Liquidity Crisis will strike, it figures that tensions will start to ratchet up in 2018, once the Federal Reserve starts to unwind its massive balance sheet.
UBS Chairman and former Bundesbank President Axel Weber said bitcoin does not fulfil some of the most important functions of currency, the latest senior banker to express scepticism about the cryptocurrency.
- After Bitcoin Crackdown, Cryptocurrencies Go Clandestine in China – Wall Street Journal (subscription)
30% probability MAS may raise slope of currency band slightly.
We are conducting our quarterly survey, which asks for your view on a variety of data-related topics from TCA to data mining.
Political debate over how to reform post-crisis rules has created a “false choice” that is obscuring other big emerging challenges to the financial markets such as digitization and cyber risk, the chair of the top US derivatives regulator warned.
The UK’s top banking supervisor implored his counterparts in Europe and beyond to work together, as he warned that UK banks will become more complex – and therefore more risky – as a result of their Brexit plans.
Two top US financial regulators told a Reuters Summit they were confident that watchdogs would reach an agreement to significantly reduce the burden of the so-called Volcker Rule banning banks from speculating with their own money.
Firms are likely to be given some time to get their reporting accuracy on track in early 2018.
As Europe begins formal search for new risk-free rate for swaps, it is unclear whether Eonia will survive.
US Securities and Exchange Commission Chairman Jay Clayton is making a tough sales pitch as he tries to convince lawmakers that his agency can protect reams of personal data after it disclosed a hack that shook confidence in Wall Street’s top regulator.
A US proposal to allow the government to seize trading firms’ secret computer code is “dead,” a senior regulator has declared, a pronouncement that will delight the high-frequency trading industry.
CME Group has recorded what Profit & Loss estimates to be its highest average daily volume in FX products since September 2014, while NEX Markets has also reported a strong month, in line with other OTC platforms to report earlier this week.
CME Group has launched Wednesday Weekly FX options (Wednesday options), which expire on Friday.
Deutsche Bank has put over 150,000 lines of code from its proprietary platform Autobahn into the public domain so that trading applications from different providers can use it as a shared foundation and work seamlessly with each other.
Matzliach Capital seeks to help strengthen wholesale financial markets by providing leaders with objective advice on how to build and grow successful businesses.
Tracey Kent has joined HC Technologies as head of e-FX sales for Europe and Asia.
Bloomberg is offering cut-price subscriptions to its messaging tool in an effort to fend off competition from Symphony, the rival service backed by some of the biggest names on Wall Street.
Sentiment towards most emerging Asian currencies soured in the last two weeks as the US dollar rallied on growing expectations that the Federal Reserve will hike interest rates later this year, a Reuters poll showed.
The Australian dollar dipped after official data showed worse-than-expected conditions in retail trading.