The euro climbed to a three-day high on hedging-related demand from bond investors before a European Central Bank policy meeting next week, though political uncertainty around Catalonia crimped gains.
The US dollar strengthened as the outlook for tax-overhaul plans improved and investors focused on the potential for President Donald Trump to nominate a hawkish Federal Reserve leader.
Sterling skidded half a cent against the dollar, after data showing British retail sales slowed unexpectedly sharply added to uncertainty over the Bank of England’s interest rate outlook.
Pound expected to fall further against the US dollar in the next year.
Nafta negotiators are working on a side deal for the US, Canada and Mexico to make a non-binding pledge to avoid devaluing their currencies for competitive purposes, according to three people familiar with the matter.
The clearing industry needs to jointly agree on whether to relocate swaps clearing away from London-based LCH by early next year to ensure continuity of service for clients in the event of a hard Brexit, Deutsche Bank’s regulatory head has warned.
European Union legislator takes aim at CCP open-access provision in further threat to UK clearing.
The City is really three financial centres rolled into one: it is the UK’s financial centre, it is the EU’s financial centre and it is a global financial centre.
The fact that FX swaps are in scope of MiFID II suggests that the world is going to change.
Despite a growing desire from some mainstream regulated financial services firms to trade bitcoin and other cryptocurrencies that are based off a public blockchain, there doesn’t seem to be many solutions on the horizon for the Know Your Customer (KYC) challenges this presents.
A global effort to replace term Libor benchmarks with overnight rates could face resistance from market participants, the head of the Intercontinental Exchange has warned.
Brett Redfearn will also oversee regulation of broker-dealers and high-frequency traders.
A US Treasury proposal to relax collateral timing requirements under new margining rules for non-cleared derivatives would tackle a problem that has forced some entities to flout the rules and in some cases led them to avoid trading with US counterparties, say market participants.
The German banking lobby criticised the new regulation as too complex and expensive.
President Trump appears close to deciding who will be the world’s most powerful economic official, the leader of the Federal Reserve, for the next four years.
Inability to influence SLR is “incredibly frustrating”, says Quintenz.
Chief executives of some of the world’s top exchanges are not happy with the scope of the current rules.
Daniel Maguire has been appointed CEO of LCH Group, with immediate effect.
Chief financial officer, Marty Chavez, says differentiated content, scale and global reach are now critically important ahead of MiFID II.
Lucera has selected network and data centre provider BSO’s Chicago-New York-London-Tokyo connectivity route to expand its global FX trading reach.
Banks aren’t actively engaging corporates about blockchain solutions, even though these could be beneficial to their businesses, according to speakers at the Swell event hosted by Ripple in Toronto this week.
Asian currencies softened against the dollar as the greenback firmed overnight, while the yuan retreated after data showed China’s economic growth eased in the third quarter.
The New Zealand dollar dropped more than one percent to a near 4½ month low after the left-leaning Labour Party won the support of a minor nationalist party to form a ruling coalition, following an inconclusive election last month.
The Australian dollar lifted after data showed the country added more jobs than expected in September and unemployment had dropped to a four-year low.