Euro Heads for Worst Quarter on Record – Reuters
The euro fell against the dollar on Tuesday, leaving the single currency on track for its worst quarter ever as investors bet on an increasingly divergent monetary policy outlook between the eurozone and the United States.
Biggest Loser from the Strong Dollar: Emerging Markets – CNNMoney
On top of currency woes, developing countries are facing political problems, fears of a Federal Reserve rate hike and the commodity bust. The result is that investors are getting out of dodge.
China’s Yuan Posts Biggest Monthly Advance Since December 2011 – Bloomberg
China’s yuan posted its biggest monthly advance since December 2011 as policy makers stepped up efforts to make it a global reserve currency and took measures to boost the property market.
Bank of England to Stress Test Banks for Global Slump Scenario – Reuters
Britain’s seven biggest lenders will have to show they can cope with a global economic slump triggered by a sharp slowdown in China and a crash in the eurozone in this year’s round of stress tests conducted by the Bank of England.
Global FX Committees Release New Market Guidelines – Profit & Loss (free story)
The Australian FXC, Canadian FXC, ECB’s FX Contact Group, Hong Kong Treasury Markets Association, London FX Joint Standing Committee, New York FXC, Singapore FX Market Committee and Tokyo FX Market Committee have approved new guidelines at the annual global FX committees meeting held in Tokyo on 23 March.
Time to Unbend the Pipes that Carry the Money – Financial News (subscription)
Corporate treasuries across Europe look set to change the way they manage their payments, liquidity and foreign exchange – as well as how they work with their banking partners.
Norway to Sell NOK 700 Million of FX Per Day in April – Reuters
Norway’s central bank will sell foreign exchange equivalent of 700 million Norwegian crowns per day in April because the government’s transfers to its $870 billion sovereign wealth fund have been smaller than earlier expected and the budget is spending more of its oil related income.
Turkey Ready to Settle Deals with Russia in Local Currencies – Economy Minister – RT
Turkey’s Ministry of Economy is to consider using local currency, either the Russian ruble or Turkish lira, in major investment projects with Moscow.