Top Headlines
Dollar Slips to Three-Year Lows on US Protectionism Worries – Reuters
The dollar slid to three-year lows against a basket of major peers on worries about the protectionist agenda expected to be pursued by US President Donald Trump in a speech later this week.
Sterling Pops Above $1.41, Setting New Post-Brexit High – Financial Times (subscription)
The UK pound rallied above the $1.41 mark, extending its best weekly rally since September and striking a new post-Brexit high.
Deutsche Boerse’s New CEO Sets Sights on Wooing Business from London Post-Brexit – Reuters
Britain’s departure from the European Union offers an historic opportunity for Deutsche Boerse to expand its business and to secure a larger portion of the euro clearing business, the exchange’s new chief executive said.
Nasdaq Seeks Boost from Bitcoin Products – Financial Times (subscription)
Nasdaq is actively exploring bitcoin-linked products and other digital currencies that would appeal to retail investors, Adena Friedman, the exchange’s chief executive has said.
- After Bitcoin Futures, Watch Out for Crypto Repos – Wall Street Journal (subscription)
- Moscow Stock Exchange Might Introduce Cryptocurrency Trading – Finance Magnates
Davos: Blockchain Can No Longer Be Ignored – Financial Times (subscription)
Stock exchanges and clearing houses could be disintermediated, while big global foreign exchange trading houses, such as JPMorgan and Citigroup, could lose out if smaller banks start using blockchain.
Regulatory News
Senate Confirms Jerome Powell as Federal Reserve Chairman – Wall Street Journal (subscription)
The Senate confirmed Jerome Powell to become the 16th chairman of the Federal Reserve, clearing the way for a new leader likely to continue raising interest rates to keep the nation’s economic expansion on track.
Traders Win Another MiFID Reprieve with Passport Data Waiver – Bloomberg
UK regulators are giving a temporary pass to traders who haven’t supplied personal information, say two trading venues, meaning watchdogs are granting another reprieve to a component of Europe’s MiFID II laws.
Qatar Alleges Attacks on Currency – Wall Street Journal (subscription)
Qatar alleges that rival Gulf countries, including the U.A.E. and Saudi Arabia, have waged attacks on its currency through “blatant, unlawful market manipulation,” according to letters sent by the Qatar Central Bank to global regulators.
Company News
RJO Shuts its FX Business – Profit & Loss
RJ O’Brien (RJO) is winding down its FX business, having concluded that this market no longer represents a strategic opportunity for the firm.
Mesirow Financial Commits to FX Global Code – Profit & Loss
Mesirow Financial says it has recently signed and committed to the FX Global Code of Conduct.
CLS Eyes May for CLSNet Launch – FOW (subscription)
The foreign exchange settlement firm said CLSNow was also on track for the fourth quarter of this year.
Jyske Bank Signs with Barracuda FX – Profit & Loss
Barracuda FX, the specialist provider of FX order management technology, has announced the signing of a new contract with Denmark’s Jyske Bank.
Market Savvy
Rand Cracks 12 per Dollar First Time Since 2015 as Optimism Grows – Bloomberg
South Africa’s rand traded below 12 per dollar for the first time since May 2015, extending a rally sparked by an improving domestic political environment and supported by global risk-on sentiment and the greenback’s retreat.
Mexican Peso’s Problems Won’t Go Away – Financial Times (subscription)
Nafta renegotiation and presidential election pose a quandary for investors.
Oil’s Surge Has Left Currencies in Its Wake – Wall Street Journal (subscription)
The seven-month surge in oil prices has left oil-linked currencies in the dust.