Dollar Steady Ahead of Fed Rate Decision – Reuters
The dollar was steady in the run in to the Federal Reserve’s policy statement later in the day, with an almost one percent fall this week showing minimal expectations the Fed will ramp up its forecasts for future rises in interest rates.
- Dollar Wavers Ahead of Fed Meeting – Wall Street Journal (subscription)
- Fed up: European Markets Dip Ahead of US Rates Decision – Financial Times (subscription)
Comparing Currency Exchange Rate Reactions for Fed Hike 2015 and 2016 – Exchange Rates
The foreign exchange markets have factored in a 25 basis point rate hike from the US Federal Reserve.
Heat is on Currencies with Pegs to Dollar – Wall Street Journal (subscription)
As the US dollar surges to multiyear highs, currencies pegged to the greenback, from Saudi Arabia to Hong Kong, are under pressure.
Pound Leads Gains Among G-10 Currencies on UK Inflation Boost – Bloomberg
The pound strengthened the most among Group-of-10 currencies after data showed UK inflation accelerated to the fastest pace in more than two years.
Swaps Traders Fear Further Fragmentation Post-Brexit – The Trade
Market participants are concerned the global swaps market could further fragment with the creation of a third liquidity pool in the case of a hard Brexit.
Key HK Lending Rate Pushes Higher as Offshore Renminbi Weakens – Financial Times (subscription)
A closely-watched borrowing rate in Hong Kong rose again as China’s offshore exchange rate continued to suggest investors expected further depreciation for the Chinese currency.
Renminbi Bears Don’t Have It All Going Their Way – Financial Times (subscription)
Despite capital flight concerns, China’s situation is less dire than the headlines.
Oil and Trump Prove Winning Recipe for Rouble – Financial Times (subscription)
Russia’s rouble has cemented its position as the best-performing currency of the past three months, enjoying the benefits of a strong oil price at a time when the US appears to be tilting towards a more accommodating relationship with Vladimir Putin.
Turkey May Limit Foreign-Currency Loans to Rein in Lira Risk – Bloomberg
Turkey is growing increasingly worried about the effects of the lira’s decline and problem loans.
Korea’s Home-Developed Virtual Currency Ready for Use in February – Pulse News
South Korea will see its first virtual currency based on blockchain system by February next year.
2016: A Rollercoaster Year for Foreign Exchange – Euromoney
2016 will be remembered as the year the people punished politicians at the polls, unleashing a torrent of volatility in financial markets, with currencies taking a huge hit.
Central Bank Denies Local Currency Artificially Low – Taipei Times
Taiwan’s central bank questioned the validity of a Bloomberg Benchmark report published yesterday stating that US president-elect Donald Trump might have the wrong currency in his crosshairs regarding the US’ trade deficit.
China Central Bank Advisers Rally Behind Beleaguered Yuan as Trump Threat Looms – Reuters
In what appeared to be an effort to shore up investor confidence in the beleaguered Chinese yuan, a phalanx of central bank advisers signaled their readiness to defend the currency and said a stabilizing economy will temper future depreciation pressure.
SEC to Have Skeleton Crew in First Half of 2017 – Investment News
The agency is likely to enter a quiet period with only two out of five commissioners on board.
Bangko Sentral Further Eases Forex Rules – ABS-CBN News
The central bank of the Republic of the Philippines (BSP) further eased foreign exchange rules amid efforts to liberalize the entry of more foreign banks in the country, BSP Governor Amando Tetangco Jr. said.
CFTC’s Giancarlo: How US Regulators Can Boost Blockchain in 2017 – Coin Desk
CFTC commissioner J. Christopher Giancarlo discusses why he believes the US needs to rethink its blockchain policy for 2017 and beyond.
Ex-Barclays CEO Joins Blockchain Board Amid Record Growth – The Trade
Anthony Jenkins’ appointment to Blockchain board follows launch of his new start-up, 10x Future Technologies.
Russia, Iran Working on Launching Currency Pair Trading – Sputnik News
Moscow and Tehran are preparing for on trade in national currencies at the Moscow Exchange Andrey Melnikov, deputy director of international cooperation and public communications department of the Russian Central Bank, said.
Digital Currency Exchange Kraken Acquires Bitcoin Buying Service – Coin Desk
The acquisition of Glidera, the terms of which were not disclosed, is the latest for Kraken, which has spent the past year snapping up other startups in the exchange space.
Asian Currencies Slip, Focus on Fed’s Rate Outlook – Reuters
Most emerging Asian currencies retreated as investors awaited the US Federal Reserve’s policy statement and economic projections for clues on just how much US interest rates might rise next year.
Brazil Currency, Stocks Up as Senate Approves Spending Cap – Reuters
Brazil’s currency and stocks rose as lawmakers approved a key austerity measure, though there was some retrenchment by investors in Mexico ahead of an expected interest rate hike by the US Federal Reserve.
C$ Ends Flat as Market Awaits Direction from Fed – Reuters
The Canadian dollar ended flat against a steady US counterpart after touching a near eight-week high, as investors braced for the US Federal Reserve to hike interest rate and provide direction on its future monetary policy.