The US currency posted its fifth straight quarterly loss in the first three months of the year, puzzling investors who bet it would benefit from corporations repatriating cash in the wake of tax cuts signed into law late last year.
Sterling gained as the dollar fell and data showed British manufacturing gaining a little bit of momentum ahead of an expected interest rate rise in May.
The euro’s big rally over the past year hasn’t convinced central banks to park their cash in the currency.
The first FX venues to report their trading volumes for last month struggled to match the highs of February, despite posting strong volumes.
Data shows strong growth in US dollar rate swaps, but global picture is incomplete, says Amir Khwaja of Clarus FT.
The US Securities and Exchange Commission has charged the two co-founders of a celebrity-endorsed initial coin offering which raised more than $32m with “orchestrating a fraudulent initial coin offering”.
- SEC Charges Startup Co-Founders with Fraudulent Initial Coin Offering – Wall Street Journal (subscription)
The bank is not providing leadership for Europe’s capital markets.
Post-trade incumbents at risk as Isda and others search for standards.
Trading firms are negotiating buying, selling and lending digital currencies like bitcoin and ether over Skype, catering to big investors looking to avoid rocking already volatile online exchanges.
US policy makers are meeting with banks and trading firms about whether to release to the public data on the $14 trillion US Treasury market that the government has been collecting since last summer.
Banks are resisting an effort by the US Federal Reserve to hold individual business units accountable for risk management.
The New York Federal Reserve will launch a benchmark US rate to potentially replace Libor and market participants hope it will prove more reliable after a long and complex switchover.
Finland’s Erkki Liikanen is deemed a fit successor to Mario Draghi.
Bitcoin investing is popular in Japan, but the nation has also had several high-profile cryptocurrency heists. Now, the central bank has come up with a rather negative Q&A for those seeking answers on cryptos.
Demand and profits are drying up at many of the more than 150 funds that popped during last year’s spectacular surge in Bitcoin – which brought cryptocurrencies to the attention of scores of institutional and individual investors.
Shares in Monex Group popped in Japan following media that reports the online broker was eyeing troubled local cryptocurrency exchange Coincheck.
TD Securities has hired Mitul Kotecha as a senior emerging markets strategist in Singapore.
Most emerging Asian currencies slipped as the dollar steadied against the yen after three straight sessions of declines on rising trade tensions between the United States and China.
The growth of new active bitcoin users is slowing, which by “Metcalfe’s law” indicates that the cryptocurrency’s market capitalization will not grow as quickly as it has, some Swiss researchers said.