The euro jumped more than half a percent as investors bought the single currency, betting on the diverging fortunes of the improving euro zone economy relative to its struggling US counterpart.
The chances of verbal intervention from European Central Bank President Mario Draghi against the euro’s appreciation increased after the currency climbed to its strongest level in more than two years versus the dollar, according to foreign-exchange strategists.
The dollar is heading for its longest monthly losing streak in 14 years despite staging a recovery late on Tuesday, as concerns about tropical storm Harvey’s impact on the US economy combined with fresh tensions over North Korea to push bond yields lower.
Just as the biggest rout for the dollar in at least six years is sending investors fleeing, at least one observer says it’s time for value-oriented money managers to start piling in.
Sterling nursed losses after falling to an 11-month low against the euro in the previous session as investors remained sidelined with little interest in trading the currency amid ongoing Brexit negotiations.
It moves for judge to stay staff depositions at seven banks for fear of witness intimidation.
Despite fears of irrevocable damage, the City of London is unlikely to change substantially once the UK leaves the European Union.
At the recent G20 summit, Emmanuel Macron, the French president, for his part recommended a new strategy that could involve shedding the 50-year-old currency peg.
After months of controversy surrounding the systematic internaliser (SI) regime under MiFID II, the European Commission has made its move to shut down a potential loophole.
New EU rules are great news for pension funds and retail investors, says Norma Cohen.
State regulator’s rules come into effect for a broad swath of financial firms in New York, presenting unique challenges.
It’s a question the SEC should take seriously as, at Clayton’s direction, it reviews public comments on the fiduciary duty of financial professionals to their clients.
Gain Capital has announced the launch of a new money transfer service on its forex.com brand.
The launch would make the Merc the fifth major clearer to launch a direct clearing membership.
Blockchain technology has been heating up in the past several months, thanks in large part to the surge in Bitcoin’s price since early May.
The Canadian dollar pulled back from a four-week high against its US counterpart as oil prices dipped, while the greenback lost ground broadly as investors weighed a North Korean missile test.
The Australian dollar was a casualty of the market’s desire for safe-haven assets in the wake of renewed tensions on the Korean peninsula.
The Chilean peso hit the strongest level in over two years as prices of copper soared, lifted by falling global inventories of the base metal, a key Chilean export.