The euro fell to a two-month low as concerns that rising US Treasury yields would push the currency to break below a range it has been stuck within most of this year, prompting hedge funds to unwind some of their record long bets.
Sterling fell to its lowest since mid-March, its sixth consecutive daily fall, as the dollar rebounded and investors worried about the performance of the British economy.
The greenback climbed to its highest level in a month and a half, with investors bidding up the currency ahead of a slate of key economic events later this week.
Dollar bulls looking for a breakout are finally finding support from US interest rates as Treasury yields climb toward levels unseen since 2014.
A small but growing number of countries are stepping up efforts to wean themselves off the dollar, aiming to chip away at the US currency’s decades long dominance.
The British government and senior finance executives said they are increasingly confident Europe will offer financial companies generous market access after Brexit, boosting London’s hopes of retaining its status as a top global financial centre.
Germany wants to help UK banks get access to the European market after Brexit, but would need Britain to make concessions, according to a person familiar with the German government’s position.
Hamstrung by a renewed slump in volatility and lack of clear market direction, FX and bond speculators are making historically big bets on a lower dollar and higher yields.
A majority of swaps participants believe the market is behind schedule for the remaining phases of incoming margining rules, according to a new survey.
Gary Gensler, the former chairman of the Commodity Futures Trading Commission, said that the cryptocurrencies Ether and Ripple could probably be classified as securities, subjecting them to greater regulatory scrutiny.
Iran’s central bank prohibited domestic financial institutions from handling virtual currencies, citing money-laundering concerns, as it seeks to ramp up control over the nation’s currency markets.
Proposal has prompted confusion, even among some SEC officials.
Cboe Global Markets said that a recent unusual move in the so-called fear gauge was caused by an order imbalance and sought to assuage concerns about claims of manipulation in the index.
Around one in five institutional financial firms have plans to start buying and selling digital tokens within the next 12 months, according to a survey by Thomson Reuters.
Antpool claims to have started burning 12 percent of fees.
The currency fell for a fifth consecutive session, sliding as much as 2.1 per cent to hit a seven-week low of MXN18.91 per dollar as rising US bonds yields and jitters over this summer’s presidential elections combined to sap investors’ appetite for the peso.
Most notable is the drop in one broad measure of EM currencies, which is facing its biggest drop in almost a year.