Dollar Finds Support but Bulls Stay at Bay – Financial Times (subscription)
The world’s reserve currency is rising in early European trade, but it remains caught between an uneasy political backdrop and uncertainty about the number of interest rate rises ahead in 2019.
Sterling Climbs After Dollar Sell-Off, Hammond Speech – Reuters
Sterling rose to a two-week high as the dollar sold off after data showed US consumer price inflation in February cooled and President Donald Trump said he had fired US Secretary of State Rex Tillerson.
Antitrust Claims Deadline Looms for FX – FX Week (subscription)
Market participants need to file a claim for a share of the settlement fund of more than $2 billion from the FX benchmark-fixing class action lawsuit by March 22, or face being excluded from the group of investors who could be eligible for compensation.
Judge Grants Bogucki’s Case Dismissal Hearing – FX Week (subscription)
Robert Bogucki’s lawyers will argue the US abused a transnational document request to extend the statute of limitations.
IMF Makes G20 Push to Police `Dark Side’ of Cryptocurrencies – Bloomberg
The International Monetary Fund can play a central role in coordinating the global regulation of cryptocurrencies so they aren’t used for illegal purposes, said Managing Director Christine Lagarde.
Winklevoss Twins Have a Plan to Police Cryptocurrency Trading – Bloomberg
The brothers, who run the Gemini exchange for trading Bitcoin and Ether, have submitted a proposal to create the Virtual Commodity Association, a self-regulatory organization meant to police digital-currency markets and custodians.
- Statement of CFTC Commissioner Brian Quintenz on a Proposal by Cameron and Tyler Winklevoss for a Virtual Commodity SRO – CFTC
Coincheck Refunds Investors and Resumes Trading After Heist – Financial Times (subscription)
Japanese cryptocurrency exchange Coincheck has paid nearly $435m to investors and has resumed limited trading after being targeted in one of the world’s biggest heists.
Trump Considers Indefinite Tariffs, Investment Restrictions Against China: Source – CNBC
President Donald Trump’s administration is considering a trade package including indefinite tariffs, investment restrictions and possible visa restrictions on Chinese travelers, a source told CNBC.
- Trump’s Trade War and the $470 Billion Hit to the Global Economy – Bloomberg
- China to Dominate Global Financial Trading in Next Decade, Says FIA CEO – Metal Bulletin (subscription)
Futures Industry Hit by Challenges to Cross-Border Trading, Says FIA CEO – Metal Bulletin (subscription)
Cross-border trading, which makes up a significant portion of the volume of the futures industry, is becoming increasingly more challenged, according to Futures Industry Association (FIA) president and chief executive officer Walt Lukken.
Havens Just Aren’t Safe Anymore, Goldman Says – Bloomberg
Traditional safe havens haven’t been working out for investors in the latest ructions in financial markets, strategists at Goldman Sachs warned.
Trump Says He Is ‘Very Strongly’ Considering Kudlow to Replace Cohn – Wall Street Journal (subscription)
President Donald Trump said he is “very strongly” considering naming CNBC commentator Lawrence Kudlow to replace Gary Cohn as director of the National Economic Council.
Two Powerful Wall Street Lobbying Groups Are Merging Into One – Bloomberg
The Financial Services Roundtable, a group whose members include the biggest US banks and payments companies, is merging with the Clearing House Association, a Wall Street trade group, the two groups announced in a statement.
Not Waiving but Drowning: EU Banks Face Capital Traps – Risk (subscription)
Council and some MEPs try to kill cross-border capital and liquidity waivers in CRR II.
Bank Regulators Vow More Flexibility in Vetting Fintech Partnerships – American Banker
Officials of three federal bank regulatory agencies said that they would be more flexible in applying third-party risk management guidance as more banks partner with fintech firms.
Hedge Funds Accused of Non-Compliance with FCA Stewardship Rules – Financial News
A major trade union is preparing to report several well-known hedge fund and asset managers to the UK financial regulator, claiming they are not complying with a code meant to improve investor engagement and risk management.
TP-ICAP Reveals Sharp Rise in Costs from 2016 Acquisition – Financial Times (subscription)
World’s largest interdealer broker says £27m in savings from ICAP deal cost £79m to achieve.
BarclayHedge CTA Index Lower in February – Profit & Loss
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 2.89% loss in February, meaning year-to-date, the Index is down 0.33%.
FAM Clearing Hires Ribeaucourt – Profit & Loss
FAM Clearing, a joint venture between Advanced Markets and Fortex, has announced the appointment of Raphael Ribeaucourt as a vice president of institutional sales.
Saxo Names Yu as China CEO – Profit & Loss
Saxo Bank has appointed Vivienne Yu as CEO of Greater China to help grow the firm’s retail and wholesale business in the region.
Trading Firm Launches Cryptocurrency Index Fund – Profit & Loss
Hehmeyer Trading + Investments, a proprietary trading firm based in Chicago, has launched a new fund aimed at providing certain qualified investors access to the cryptocurrency market.
Turkish Lira Hits Record Low as Economy, Syria Worries Weigh – Reuters
The Turkish lira hit a record low against the euro and bond yields rose to the highest in more than three months as investors fretted about a widening current account, conflict in Syria and the possibility of early elections.
South African Rand Firms as Dollar Wobbles, Stocks Edge Lower – Reuters
South Africa’s rand rose as the dollar fell after US President Donald Trump fired Secretary of State Rex Tillerson, while stocks weakened.
Indonesian Bitcoin Investors Set to Outnumber Stock Participants – Bloomberg
The biggest Indonesian platform to buy and sell digital currency may soon have more members than the nation’s century-old stock exchange.