The US Federal Reserve increased interest rates by a quarter point today, also indicating that it now expects to increase rates three more times in 2017.
- Dollar at 14-Year Peak as Fed Rejuvenates Trump-Rally, Emerging FX on Back Foot – Reuters
- US Currency Soars to 14-Year High After Fed’s Interest-Rate Decision – Wall Street Journal (subscription)
The dollar could continue to lap other currencies after surging in the wake of the US Federal Reserve’s interest rate hike on Wednesday.
Sterling fell almost half a percent in morning trade in Europe, suffering along with a raft of other currencies against the dollar after the US Federal Reserve raised its forecasts for interest rates next year.
The EU is preparing rule changes that could deprive London of one of its flagship financial businesses by enabling territorial restrictions on the clearing of some euro-denominated transactions even before Britain leaves the bloc.
Chinese stocks and currency struggled on Thursday after the Federal Reserve raised rates for the first time in a year.
Emerging-market investors wary about the dangers of a more hawkish Federal Reserve may need to put their faith in China.
Emerging-market stocks and currencies fell after the Federal Reserve forecast a steeper path for borrowing costs in 2017, dimming the outlook for riskier assets.
- Dollar Surges Against Yen, Other Asian Currencies After Fed’s Move – Market Watch
- Ringgit, Asian Currencies Weaken on US Rate Hike – The Edge Markets
- Asian Currencies Drop on US Interest Rate Hike – Nikkei Asian Review
The move, which relates to foreign currency swap agreements between banks and the central bank, risks depleting the country’s dwindling foreign reserves as Nigeria faces a severe dollar shortage, bankers warn.
The motion filed today in San Francisco seeks to quash the summons.
The pound, krone and rand are the currencies to watch heading into 2017 as technical charts and supportive cross-asset themes signal their recent momentum may continue.
Competition is once again fierce – but which rule-maker most deserves the accolade?
Kay Swinburne will lead the European Parliament’s team on CCP recovery and resolution.
With the imminent departure of SEC Chair Mary Jo White and her top enforcement lieutenant Andrew Ceresney, now is a good time to review the effectiveness of the SEC and other federal enforcement entities.
The Swiss National Bank continues to monitor events on the forex markets very closely in what remains a “fraught” environment, SNB Governing Board member Andrea Maechler said.
Saudi Arabia, Kuwait and Bahrain raised interest rates within minutes of the US Federal Reserve’s decision to do so as they scrambled to avoid downward pressure on their currencies due to low oil prices.
The National Bank of Ukraine (NBU) in 2017 plans to continue to gradually ease temporary restrictions and start liberalization of foreign exchange regulation system, as well as to develop a concept for approximation of banking regulation, according to the central bank’s press service.
One major drag to Ethiopia’s growth aspiration is perhaps the central bank and those we are in charge of the nation’s monetary policy affairs.
HSBC Bank (China) has been appointed as the onshore custodian bank for BlackRock, which has been granted approval by Chinese regulators to use the RMB to directly access China’s onshore securities market.
Cobalt DL, a blockchain startup co-founded by former Traiana CEO Andrew Coyne and former Mako FX owner Adrian Patten for developing an FX post-trade processing network, has just announced Citi is an investor and launch client.
Currencycloud, an international payments engine, has announced that it will use technology from Duco, a fintech that provides data control services for a variety of operational functions including cash, trade-to-cash, and bank cash flow reconciliations.
Strong hints by the US Federal Reserve that interest rates will rise at a faster pace in 2017 have sent the greenback flying against most major currencies but analysts doubt the Australian dollar will slide much further.
Emerging Asian currencies slid against the dollar, with the Chinese yuan hitting an eight-year low after the US Federal Reserve raised interest rates and signalled a faster pace of rate increases in 2017.
The Canadian dollar tumbled from an eight-week high against its US counterpart, pressured by lower oil prices and broad gains for the greenback after the Federal Reserve raised US interest rates for the first time in a year.