Top Headlines

Dollar Slips as Investors Watch Oil, Fed Speakers – Wall Street Journal (subscription)

The dollar slipped as investors digested weak oil prices and mixed messages from Federal Reserve officials.

Dollar Five-Year Super-Cycle Is Over: Barclays – Reuters

Rises in US interest rates will probably prop the dollar up over the next 18 months, but its multi-year run higher since 2012 looks to be over, strategists from British bank Barclays said in a note.

Currency Traders Jolted by Haldane as Pound Hogs the Limelight – Bloomberg

The pound grabbed the center of the G-10 currency stage for a second day, much to the chagrin of short-term traders, after remarks from Bank of England Chief Economist Andy Haldane contrasted sharply with the tone set by the bank’s Governor Mark Carney just the day before.

The Brexit Vote and UK Markets One Year On – Financial Times (subscription)

Markets face fresh political and economic uncertainty 12 months after the country’s vote to leave the EU.

Yen Gains as Oil Hurts US Inflation Outlook While Kiwi Rises – Bloomberg

The yen strengthened for a third day against the dollar as weak energy prices damped the outlook for US inflation, casting doubt on the Federal Reserve’s ability to keep raising interest rates.

Rand Still Rattled After Stubbornly High Inflation Data – Financial Times (subscription)

An uptick in inflation hampered the South African rand, with the currency struggling to regain momentum as investors fret over the government’s quest to “radically transform” the economy.

On the Race to Zero – Profit & Loss (subscription)

If you are on an expression of interest venue, why should you care if the person on the other side is quicker than you?

Five Markets Charts That Matter for Investors – Financial Times (subscription)

Financial deregulation moving the interest rate swaps market while Italian bonds find calmer waters.

Regulatory News

US Regulators Set to Offer Bank Rule Changes to Congress – Wall Street Journal (subscription)

Top US policy makers are set to offer Congress significant ways to ease regulation of banks, according to testimony released ahead of a Senate hearing Thursday.

Regulator Keith Noreika Vocal About Pushing for Change – Wall Street Journal (subscription)

Acting comptroller of the currency suggests taking away powers from other policy makers, which could make for tense moments at Thursday’s hearing.

Banks to Vote on Alternative to Libor as New Rate Benchmark – Reuters

A committee of global banks will vote on an alternative to the London Interbank Offered Rate (Libor) for use as a benchmark US interest rate for derivatives contracts, after a decline in short-term bank lending since the 2008 financial crisis undermined faith in the rate.

Barclays Case Bolsters Prospects for SFO – Financial Times (subscription)

Tory pledge to abolish fraud watchdog put on the back burner.

Company News

Survey: Asset Managers Uncertain About Mifid II Rules – Profit & Loss

Six months ahead of the Mifid II compliance deadline, alternative asset managers still face uncertainty about how they will comply with the new rules, according to a survey by the Alternative Investment Management Association (AIMA).

Jefferies Adds Three to its FX Team – Profit & Loss

Jefferies has hired Michael Porzio as SVP, head of e-FX product, Bryan Seegers as SVP, quant relationship management, and Patrick McInerney, SVP, sales trader.

JPMorgan Said to Weigh Doubling Down on Dublin, New Dutch Office – Bloomberg

JPMorgan is scouting for additional office space in Dublin and is also weighing occupying property in Amsterdam after the UK’s vote to leave the European Union, people with knowledge of the matter said.

Market Savvy

Rouble Runs Out of Luck – Financial Times (subscription)

Russia’s rouble has managed to shake off the slide in oil for months. No longer.

Krone Jumps as Norges Bank Removes Easing Bias – Financial Times (subscription)

Norway’s central bank has become the latest to tentatively signal an end to its years of accommodative monetary policy, removing guidance that it could cut rates this year.

Argentine Peso Drops to Record Low – Financial Times (subscription)

After equities, investors are taking out their disappointment with Argentina’s failure to win back its status as an emerging market on the country’s currency.