Former HSBC Holdings currency trader Mark Johnson took the witness stand, insisting that he cheated no one in a $3.5 billion foreign-exchange transaction.
The dollar has come under pressure for the fifth day in a row, halting a rebound amid dimming enthusiasm over tax reform and an easing in European political uncertainty.
Dollar bulls may be disappointed if they’re pinning their hopes on Republican proposals that could clear the way for US companies to repatriate profits stashed overseas, according to JPMorgan Chase.
The euro climbed to a two-week high after a slew of strong data that supported a growing view that the European Central Bank will announce a plan to wind down its huge stimulus plan at a policy meeting later this month.
Sterling edged higher against a tepid dollar, despite a backdrop of uncertain Brexit negotiations.
Trading volume for fixed income, currencies and commodities (FICC) was also hurt by weak volatility in the quarter.
Firms are looking at “AI” and ‘machine learning” and, in some cases (not many) actually deploying it.
Macro investors seeking to beat basic currency strategies are having a horrible year.
Financial advisers say that despite the temptation, the market and regulatory risks are too great.
Threshold was set to be lowered to $3 billion in notional value from $8 billion starting in 2018.
Global banking regulators are close to a final deal on capital rules that aim to ensure banks can withstand financial shocks, with Europe and the United States set to compromise on a major sticking point, banking and regulatory sources said.
Powell, a current Federal Reserve governor, is seen as a safe choice for the most powerful economic job in the US.
President Donald Trump promised to do “a big number” on the Dodd-Frank Act. But a slate of bills House Republicans will take up shows how difficult it is to get anything big through Congress these days.
Finance trade bodies worry the SEC has been too slow in responding to new European rules.
Regulators worldwide are finding that it’s incredibly hard to control the explosive growth of money tied to no nation.
State Street is reshuffling senior FX staff, with James Reilly being appointed as the global head of Currenex and Beverley Doherty as global head of FX Connect.
FXecosystem has launched its FX-VPS – a cloud-based Virtual Private Servers (VPS) offering for the financial markets.
CEO Duffy notes exchange is based there for ‘legacy reasons’.
China’s yuan eased against the US dollar amid by heavier corporate demand for the greenback, traders said.
A retreating dollar, solid commodity prices and new record highs for world stocks helped extend the rally in emerging markets, with stocks at new six-year highs and currencies firming almost across the board.
The New Zealand Dollar remains consolidative but a notable directional move is possible with the announcement of a new Government likely on Saturday.