The euro jumped to a three-year peak against the dollar after German political leaders took a significant step towards forging a new “grand coalition”.
The US dollar fell after minutes from the European Central Bank’s December meeting signaled the central bank may phase out its bond-buying program sooner than investors had expected.
Sterling rose more than half a percent to hit a four-month high against the dollar as investors dumped the greenback against a range of peers following strong euro gains but the pound lost ground against the single currency.
Theresa May has told City of London bosses she will put financial services at the heart of a new trade deal with the EU, in the first formal meeting between the prime minister and the financial services sector on Brexit.
The price of bitcoin has dropped significantly following new reports that authorities in South Korea might ban the trading of cryptocurrency exchanges.
The consultancy laid out a bear case for bitcoin that puts it at just $1,800 at the end of 2018.
- Dean of Wall Street Lawyers Sees Sweeping Bitcoin Regulation Coming – Bloomberg
- Ex-Financial Regulator Wishes He Invested in Bitcoin Back When He Was Telling Everyone to Be Careful – CNBC
The currency world showed signs of emerging from its low-volatility stupor this week after the Bank of Japan and the European Central Bank surprised traders with messages on their bond-buying policy that fueled rallies in the euro and yen.
In a wide-ranging report on blockchain and cryptocurrencies, Credit Suisse said blockchain would reach full maturity in 2025.
The Australian Financial Markets Association (AFMA), supported by ACI Australia, has launched a Public Register for Statements of Commitment to the FX Global Code by participants in the wholesale Australian foreign exchange market.
A €200bn-plus trade reported in error to one of Europe’s largest exchanges this week has thrown up more evidence of the struggles firms are having in adapting to vast new trading rules.
ESMA has gone public with its concerns over the fees that trade repositories charge their clients and made recommendations for change.
MAS head is unconvinced that central banks should create digital currencies.
The Senate Banking Committee will vote next week for the second time on the nomination of Jerome Powell to be the next Federal Reserve chairman, a spokeswoman said.
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.54% gain in December. The CTA Index ended 2017 with a 0.69% gain.
Jump Trading has hired Bo Bjurgert in a business development role, covering Europe, based in its London office.
London-based Cash Netting Services is aiming to cut hundreds of millions of dollars in annual costs for banks by helping them find netting opportunities on a bilateral basis.
Asian currencies were broadly firmer, as the dollar slumped in the wake of weak factory inflation data and hawkish comments from the European Central Bank.
Central European currencies firmed as global dollar selling accelerated after reports that German parties reached a breakthrough in coalition talks.
The Australian dollar is on the charge, rising to the highest level in three months on the back of a bumper Australian retail sales for November and broad-based US dollar weakness.