The dollar rose to seven-week highs against the yen, as investors awaited US jobs data that is likely to cement expectations of a Federal Reserve interest rate hike next week.
Sterling steadied after its weakest fortnightly performance in five months, with investors worried that Britain’s economy is heading for a slowdown on the back of sluggish consumer spending.
Mario Draghi helped support the euro and fuel a sell-off for German Bunds as mildly hawkish remarks from the European Central Bank president contrasted with the dovish tone of the ECB’s post-policy meeting statement.
- Draghi Backs Germany Over Currency Spat – Financial Times (subscription)
- CEE Forex, Bonds Ease as Markets Price in ECB Rate Hike Within a Year – Reuters
Almost Three Quarters of French Against Ditching Euro – Reuters
Almost three quarters of French people are against leaving the euro zone currency bloc and returning to the franc, a survey showed, in bad news for far-right leader Marine Le Pen who advocates a so-called ‘Frexit’.
Weaker, then stronger. Stronger, then weaker, Friday marks the sixth trading day since China’s two renminbi rates implied more currency weakness for the first time in two months – but the signals are very mixed.
Chinese policy makers have made it clear that they don’t want any surprises when it comes to the yuan.
Renewed concerns about a supply glut sent ripples through the currency market and hammered energy shares on Wednesday, and an attempt at a rebound on Thursday faded.
Regulators urged to make supervision a condition for allowing UK access after Brexit.
Trading obligation consultation due by May, as industry urges clarity rather than speed.
Swap dealers and US prudential regulators have differing interpretations of the non-cleared margin relief granted on February 23 – a mix-up that may have resulted in large derivatives users continuing to trade under old collateral agreements, contrary to the wishes of the Federal Reserve.
Former SEC picks return to advisory roles, signaling end of renomination hope.
German finance minister set to meet US Treasury Secretary Steven Mnuchin next week.
Financials don’t seem too happy to hear that bringing back Glass-Steagall is still on President Donald Trump’s policy to-do list.
The Monetary Authority of Singapore (MAS) has successfully completed its blockchain inter-bank payments proof-of-concept project.
Banks’ currency trading arms believe they can exempt teams of strategists from new European rules on research by changing their job titles and imposing hard limits on what they can say in public.
CME Europe told clients the FX schemes will not be renewed at the end of March.
Barry Silbert, whose Bitcoin Investment Trust made it easier for mainstream investors to bet on bitcoin’s value, is looking to create a second trust later this month focused on a different digital currency: classic ether.
Emerging stocks and currencies headed for a second straight week of losses as investors showed nerves ahead of next week’s all-but-certain interest rate hike in the United States and a gathering of global finance chiefs.
Commodity currencies such as the Australian, the New Zealand and the Canadian dollars strengthened against their major counterparts in the Asian session, as crude oil rebounded in Asian trades.
The shekel has pulled back slightly from last week’s more than two-year high against the dollar, after the central bank reaffirmed its commitment to trying to slow the currency’s appreciation.