The euro hovered below a 14-month high before a policy decision by the European Central Bank that may lay the grounds for a policy shift later this year.
It’s the morning after a long, dark session for the dollar and the world’s reserve currency is finding support.
- Dollar Posts Biggest Daily Rise in More Than Two Weeks – Reuters
- Dollar Rises Ahead of Central Bank Meetings – Wall Street Journal (subscription)
Sterling dipped back below $1.30 on concern UK ministers are prepared to walk away from Brexit talks without a deal.
Goldman Sachs told investors to close out of an emerging-market carry-trade recommendation it made eight months ago, saying there was little scope for appreciation.
As the FX market becomes more automated and continues trading faster, the industry needs to implement better controls to prevent disruptive behaviour, says Greg Wood, SVP, global industry operations and technology at FIA.
It’s not about whether it should be banned or not, it’s the number of liquidity providers that do not disclose their use of the practice.
A US appeals court overturned the convictions of two former London traders from the first US criminal trial stemming from the worldwide probe into manipulation of the Libor interest rate benchmark.
Brazil’s securities watchdog CVM has opened two probes into foreign exchange transactions by units of J&F Investimentos, which has been at the center of a corruption scandal.
Five of the biggest banks in the US have now reported second-quarter profits, which add up to a bumper $20 billion.
New margin rules could snare legacy trades amended to reference alternative rates, lawyers warn.
City firms will kick off their Brexit contingency plans by the end of the year unless the government agrees a transitional deal with the EU, the head of the UK’s top financial watchdog warned.
Acting comptroller Keith Noreika says federal system needs to be inclusive, accommodate new banks.
The Q3 edition of Profit & Loss will feature an in-depth special report on FX prime services, looking at the significant changes that have occurred in this segment of the market and how these will impact trading firms in the future.
Douglas Nevistich has re-joined NEX (Nex) Group in New York.
Morgan Stanley has become the latest global bank to pick Frankfurt for its new trading headquarters inside the European Union after Brexit, according to people briefed on the decision.
Court decision means derivatives trading venue can stay open for at least another nine months.
TradAir has partnered with Singapore-based technology firm Snap Innovations, to jointly develop FX solutions, initially for Asian market participants.
Mexico’s peso hit a new high following an improved credit outlook for the country and a Reuters report detailing an aggressive timetable for trade talks between Mexico, the United States and Canada, before shedding gains later.
The Australian dollar was pushing toward the $0.80 mark and banks Down Under were rallying following data that showed the national unemployment rate unchanged in June at 5.6 per cent.
South Africa’s rand was pressured by the possibility of an interest rate cut later in the day.