Professor Otmar Issing, the European Central Bank’s first chief economist who helped create the single currency at the turn of the century, has warned that the euro cannot survive in its current form.
The euro steadied ahead of a meeting of the European Central Bank on expectations that officials are beginning to consider reining in the volume of extra emergency aid they give to the euro zone economy next year.
Bank of England Deputy Governor Ben Broadbent said the pound’s slump since the UK vote to quit the European Union will help the economy overcome shocks from the decision.
For a central bank that doesn’t target the exchange rate, the Bank of England is spending a lot of time talking about it.
Strategists say this could push the pound lower towards parity with the euro.
China’s foreign currency shares plunged the most since January in late trading, sending traders scrambling for reasons to explain the sudden volatility in a largely moribund market.
China now meets only one of US Treasury’s three criteria for such a labeling, fewer than Germany or Japan.
Officials told lawmakers last week state support for lender was ‘inconceivable’.
Virtu Financial is in talks to trade on behalf of Union Investment, a major German asset manager, in one of the clearest signs yet that high-frequency trading is becoming widely accepted by Europe’s traditional investment community.
Thomson Reuters launched an FX Central Limit Order Book for the Nigerian market, a move that it claims will enhance liquidity in the local FX market there.
A turn in an arcane but important corner of the currency markets is signaling a possible slowing of money outflows from Japan that have helped buoy bonds globally this year.
The Indian rupee’s top two forecasters are at odds as to how vulnerable the world’s fastest-growing major economy is to outside shocks.
A group including former prop traders and finance professionals has registered Bitnomial, a bitcoin derivatives exchange, with the Commodity Futures Trading Commission.
White House spokesman Eric Schultz reaffirmed the president’s support for the top US markets cop, hours after Sen. Elizabeth Warren called for her firing in a letter to Mr Obama.
The European Securities and Markets Authority has published a Q&A document seeking to clarify expected standards around certain practices, including best execution.
Major European banks could be forced to start exchanging collateral in relation to their uncleared over-the-counter derivatives trades early in the New Year, as the region’s lawmakers set about making up for lost time after missing an international deadline for implementing the rules.
Southeast Asia’s best-performing currency is giving Indonesia’s central bank the opportunity to continue increasing foreign reserves from a four-year high, a senior official said.
As prime brokers seek more control, Traiana gets set to launch a dynamic credit-allocation product.
Oanda has unveiled v20, its proprietary trading engine that the firm claims offers an execution speed of 1.3 milliseconds, four times faster than its legacy trading engine.
The yen held a three-week decline against the dollar as hedge funds trimmed bullish bets on the Japanese currency by the most since May and speculation increased that the Federal Reserve will raise interest rates this year.
Emerging stocks and currencies came under pressure, weighed down by the dollar romping to its strongest level in nearly seven months and long-dated US bond yields climbing higher following comments by Federal Reserve Chair Janet Yellen.
Emerging-market currencies and stocks headed toward their lowest levels in a month as the prospect of a US interest-rate increase and concern over Chinese growth sapped demand for riskier assets.