The dollar fell in Asian trading, as concerns over tensions with North Korea and Syria weighed on US Treasury yields and offset expectations of US interest rate hikes.
Pacific Investment Management Co. has become less bullish on the dollar against emerging Asian currencies and says it trimmed investments in the region’s bonds as they are now relatively expensive.
Sterling received a slight boost after data showed the UK’s inflation rate remained steady at 2.3 per cent, with the currency rising as much as a quarter of a per cent against the dollar.
Politicians like to throw around the phrase “currency manipulation” when they feel that some other nation has developed an unfair trade advantage by way of an artificially weak exchange rate.
Isaac Lieberman loves a good flash crash.
The safe-haven yen rose broadly in European trading, as investors considered a spectrum of risks including possible US action in Syria and North Korea, and a resurgence in previously written-off contenders in France’s presidential race.
Globalisation of the renminbi – a key long-term goal for Beijing – is at its lowest point in three years as offshore dealing in the Chinese currency continues to shrink.
- Onshore Renminbi Weakens After PBoC Sets Dollar Trading Band Stronger – Financial Times (subscription)
South Africa’s currency was fighting to find a floor in early Asia trade after the currency tumbled another 1.4 per cent.
Traders have taken the most bearish stance since mid-2015.
When it comes to Nigeria’s currency, mind the gap, again: the spread between the official and parallel market rates for the naira is widening once more.
Claims of FX derivatives mis-selling have spiked since the EU referendum, although the limited number of court cases brought to date indicates the difficulties faced by companies who feel they were sold products not appropriate for their hedging requirements.
No matter how advanced technology becomes, natural instincts will have the upper hand.
A gap in EU financial rules is allowing member countries to compete to host the trading operations of London-based investment banks after Brexit by offering looser regulatory standards.
Major central banks should prepare to normalize monetary policy as deflation risks have mostly disappeared from their economies and growth is picking up, the head of the Bank for International Settlements said.
President Trump reinforced how serious he is about reforming the regulatory state by nominating Neomi Rao to head the Office of Information and Regulatory Affairs.
Facing possible budget cuts under President Donald Trump, the Securities and Exchange Commission is eliminating dozens of contractors hired to help root out Wall Street fraud, said two people with knowledge of the matter.
The barring of so-called universal banking could be of great benefit for the US bank.
Answers to investors’ and advisers’ questions about how the Labor Department review may play out.
China is taking another step to contain the growing risk in its financial system, warning banks against engaging in speculative activity that has created unhealthy asset bubbles and prevented money from flowing into a weak real economy.
The UK’s Financial Conduct Authority (FCA) is looking into separately regulating blockchain as some aspects of the technology do not fit with current regulation.
Only a year ago Russia’s Finance Ministry was threatening jail time to anyone using digital currencies.
LCH Clearnet has appointed Daniel Maguire as its COO, effective immediately.
The latest Goldman partner to retire is Manikandan Natarajan, its London-based global head of FX derivatives trading.
CLS’s FX volumes were noticeably higher in March, attributed largely to higher trading volatility.
Volatility in the price of a euro interest rate swap cleared at Eurex relative to LCH has jumped since mandatory clearing began in Europe last year, but banks say they’re now more comfortable managing clearing house basis moves than in the past.
The yen and the Australian dollar are the standout performers as the US dollar takes a breather in Asian trade.
Brazil’s currency and stocks seesawed, reflecting uncertainty over the passage of a proposed pension reform and the impact of sliding iron ore prices in China.
Central European currencies mostly eased as investors shunned risky assets due to rising geopolitical risks, while Hungary and Romania published lower-than-expected inflation figures.