The euro dipped to a six-week low in Asia trading after Sunday’s historic independence vote in Catalonia continued to drag down the currency.
The dollar climbed for a second consecutive day as a strong reading for US manufacturing activity pushed bond yields higher, prompting investors to trim some of their extreme short bets against the greenback.
- Dollar Extends Climb on Economic Optimism, Europe Political Uncertainty – Financial Times (subscription)
- Dollar Holds Gains After US ISM Manufacturing Beats Estimates – Bloomberg
The dollar continues to push higher, with the dollar index tracking its moves against a basket of six other major currencies up by 0.45 per cent on the first trading day of the fourth quarter.
Britain’s pound slipped after numbers showed activity in the construction sector unexpectedly slowed to a 14-month low in September, suffering the sharpest fall since just after last year’s Brexit vote on concerns over the economic outlook.
The first four platform providers to publish FX average daily volume (ADV) for September have all reported significant month-on-month (MoM) and year-on-year (YoY) increases.
Authorities seem content to fine banks – and accept the traders’ dismissals – but not question the cultural issues that clearly pervaded the industry.
Struggling to make money in a world of ultra-low volatility, hedge funds are taking bigger – and riskier – gambles in foreign exchange markets.
The Complaints Commissioner has partially upheld cases against the UK’s financial watchdog brought by two former UBS traders caught up in the Libor-rigging scandal.
Sterling’s status as a global reserve currency is little-changed a year after Brexit, a vote that prompted predictions of the pound losing favor among central banks.
Carry trade behaviour often a better explanation for currency moves.
While little is yet known about Japan’s new national opposition party, any gains in polls for the group led by Tokyo Governor Yuriko Koike should be good for the yen, according to Goldman Sachs Group.
Foreign currency inflows from tourism hit decade low in March.
SRB defends EC moratorium proposal, but Parliament and Council are turning against it.
The Bank of England has published new rules to avoid the chaos of a Lehman Brothers-style collapse by setting out how much of a special internal debt the biggest international banks must hold to be used as a bail-in by regulators in a crisis.
Local authorities will apply key elements of Mifid II temporarily, owing to Esma backlog.
Add derivatives transaction cost analysis – measurement of best execution – to the list of services that could grow with the advent of MiFID II in January.
Hackers who broke into a US regulatory database that stores market-moving corporate information also accessed personal details about two people, including their names, dates of birth and Social Security numbers.
A popular digital-coin exchange is drawing scrutiny from US regulators over a June flash crash that erased most of the value in the second-largest cryptocurrency before traders had time to blink their eyes.
NEX Group (Nex) has provided a trading update for investors, in which it has flagged increased spending at its Optimisation division under which umbrella the firm’s post-trade businesses operate.
Market sources tell Profit & Loss that Lisa Spiteri, regional manager, e-FX distribution for APAC, India, Japan and Korea for NEX Markets, has left the firm.
Dr Bradley Jones has been appointed to the position of head of International Department at the Reserve Bank of Australia.
Move would make it the first big Wall Street firm to deal directly in the growing yet controversial cryptocurrency market.
The Canadian dollar weakened against its US counterpart after a drop in the price of oil, one of Canada’s major exports, and a broad rise for the greenback.
Emerging equities rose to a one-week high, following gains in developed markets after strong US activity data, but a firmer dollar kept currencies such as the lira and rand under pressure.
The Australian dollar is at its lowest level since July after the October RBA rates decision.