Top Headlines 

Dollar Rebounds From 14-Month Low as Fed Awaited, Meetings Eyed – Bloomberg

The dollar rebounded slightly from a 14-month low as Treasury yields rose while markets awaited this week’s Federal Reserve meeting and kept a wary eye on Capitol Hill meetings that involve members of the Trump administration. 

Buck Still Sliding: Dollar Index at Lowest Since June 2016 – Financial Times (subscription)

So far today, the dollar index, which tracks the currency against a basket of peers, has nudged to fresh lows at 93.81 – its lowest point since June last year.

Sterling Stalls Above $1.30 – Reuters

Sterling steadied just above $1.30, unable to break out against a broadly weaker dollar as worries over Brexit and the pace of UK economic growth swirl.

Euro Hovers Near Two-Year High as Traders Await Fed – Financial Times (subscription)

The euro edged back from a two-year high against the dollar although its recent appreciation helped keep continental European stock markets under pressure.

Hedge Funds Wager the Loonie Rally Has Legs – Bloomberg

It took the first Bank of Canada rate hike in seven years, but hedge funds are finally convinced that the loonie’s strength is here to stay.

Zloty at Risk of Lingering Political Angst, Say Analysts – Financial Times (subscription)

Rally stalls as growth hopes counteracted by Poland’s constitutional crisis.

Frankfurt’s Mixed Brexit Blessing – Bloomberg

What’s good for Germany isn’t always good for Europe.

Regulatory News

LedgerX Becomes First CFTC-Approved Digital Currency Venue – Profit & Loss

The US Commodity Futures Trading Commission (CFTC) has issued an order granting LedgerX, an institutional trading and clearing platform for digital currencies, registration as a derivatives clearing organisation under the Commodity Exchange Act (CEA).

Steven Mnuchin’s Bank Reforms Carry a Warning for Europe – Financial Times (subscription)

The review of bank regulation published last month by US Treasury Secretary Steven Mnuchin is essential reading for every European central banker and any policymaker who cares about the competitiveness of Europe.

US Eases EU’s ‘America First’ Concerns Over Bank Deregulation – Politico Pro (subscription)

MEPs pressured the US to preserve the Dodd-Frank Act provision to deal with the failure of big banks.

Prop Traders Rebuffed by FCA on Capital Modelling – Risk (subscription)

Non-banks may have to use tougher market risk approach than bank competitors.

Company News

CME Rolls out Implied Functionality for FX Futures – Profit & Loss

CME Group will introduce implied functionality on six FX futures contracts and all SD calendar spreads to help increase liquidity in the contracts.

Nasdaq’s Head of Fixed-Income Trading Leaves After Just 10 Months – Financial Times (subscription)

John Shay is leaving Nasdaq after he was brought in only 10 months ago to try to turn around the struggling fixed income, currencies and commodities business, according to people briefed on his departure.

Early Adopters of New Technology in the Financial Services Sector Are More Successful Than Their Peers, Study Reveals – City AM

Financial services firms which pave the way in adopting new technologies are outperforming their peers, according to a new study from fintech provider FIS.

Australian Brokerage Worries for Staff Held Hostage in Shanghai – Financial Times (subscription)

An Australian brokerage said it was concerned for the safety of three of its staff at its Shanghai office who are continuing to be held hostage by irate investors who lost money on foreign exchange deals.

Market Savvy

Canadian Dollar Rallies to Highest Since June 2015 – Financial Times (subscription)

Canada’s dollar has strengthened to a fresh two-year high against the greenback, highlighting disparity between tighter monetary policy cycle in Canada and political jitters in the neighbouring US.

Emerging Stocks, FX Edge Lower Ahead of Fed Despite Tepid Dollar – Reuters

Emerging markets stocks and some currencies softened a touch as a tepid dollar and higher oil and commodity prices held back risk appetite in the run up to a meeting of US Federal Reserve policy makers.

Zloty Steadies Under Shadow of Polish Political Turmoil – Reuters

The zloty steadied following recent jitters prompted by political wrangling over reforms which increase Poland’s right-wing government’s influence over the judiciary.