The dollar inched lower ahead of voting in the US presidential election, a sign of last-minute nerves over the chances of a victory for Donald Trump that traders and analysts say would knock several percent off the greenback’s value.
- Stocks Advance as Currency Swings Die Down on US Election Day – Bloomberg
- Stocks, Currencies and Bonds Freeze Ahead of US Election – Wall Street Journal (subscription)
- Dollar Flattens Out Ahead of US Election – MarketWatch
CME Group has issued an advisory stating that its Global Command Centre has taken “emergency action” ahead of this week’s US election by widening the price fluctuation bands on interest rate futures contracts traded on CME and Chicago Board of Trade, which is part of the CME Group.
In a move that might be seen as a little late, the National Futures Association has instructed FX brokers to raise their margin requirements for clients trading sterling.
Sterling rose against the dollar in nervous trade as Hillary Clinton and Donald Trump approached the finishing line in a tight US presidential election race.
The pound/euro exchange rate is trading above the 1.12 level despite the fact the US dollar has weakened slightly (a circumstance which typically lends the euro support) as investors brace themselves for the result.
The Japanese yen is, generally speaking, one of the go-to safe-haven assets investors pour into during times of uncertainty.
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The popularity of Malaysia’s ringgit and Indonesia’s rupiah among global investors has made them Southeast Asia’s most volatile currencies, just as the region heads for troubled waters.
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The Bank of England has started looking for a new deputy governor, a possible stepping stone to the top job just three years before Governor Mark Carney steps aside.
The proposed Basel regulations have been subject to much scrutiny this year.
The Australian government has announced it is proceeding with reforms regarding the use of client funds by OTC derivatives brokers.
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The exchange has increased its portfolio of products with Nifty 50 futures and EUR/USD and USD/JPY FX futures.
National Bank of Kuwait said that rising profits from its business in Egypt will help offset any impact from the drop in the value of the Egyptian pound.
Pressing ahead with its global expansion plan, bitcoin and ether exchange Gemini, founded by the Winklevoss brothers, has opened shop to users in Japan and the Republic of Korea.
Hopes of a US election victory for Democrat Hillary Clinton lifted emerging market equities for the second straight day, although currency gains stalled and Turkey’s lira hit record lows against the dollar.
A Donald Trump victory in the US presidential election would be negative for all emerging markets, including India.
An overnight rally in the Australian dollar that took the currency close to a three-month high faded during the local session after business conditions fell to the lowest level in 1½ years.