A swing in sentiment against the euro dominated major currency markets for a second day, with weak initial readings of German regional inflation prodding the single currency back to nine-day lows against the dollar.
The growing herd of European stock bulls can add the rising euro to their case.
Sterling has strengthened after the UK’s momentous decision to formally withdraw from the EU.
- Pound Fluctuates as UK’s May Officially Starts Brexit Process – Bloomberg
- British Pound Pares Losses as Brexit Begins – Wall Street Journal (subscription)
The dollar edged up to a nine-day high against a basket of currencies, with the euro sagging as the European Central Bank showed no sign of stepping away from monetary easing anytime soon.
The last reliably dull monetary policy meeting in Prague has wrapped up with a decision to keep interest rates on hold at very close to zero, and to leave the upper limit on the koruna in place.
The renminbi’s share of international Swift payments inched higher in February, but that growth came as payments in all currencies fell more than five per cent and still left the currency’s global prominence diminished over the longer term.
An estimated $1.8 trillion has left Asia’s largest economy from the start of 2015 through January 2017, as the yuan lost almost 10 percent and returns on onshore assets dropped amid slowing economic growth.
US Department of Justice also said that independent monitors would be installed.
CBOE plans to integrate with the Bats technology platform, starting with its futures exchange from 2018.
Even as regulators crack down on yet another round of consolidation among exchange operators, at least one major bourse is still keen to pursue deals.
Senators, led by Elizabeth Warren, claim Michael Piwowar has overstepped his authority.
Senate Banking Committee to sign off on Clayton’s nomination Tuesday; he would still need to be confirmed by full Senate.
The European Securities and Markets Authority (ESMA) has tightened rules around financial benchmarks to improve transparency and reduce manipulation.
The idea of combining the CFTC with the much larger and more bureaucratic SEC remains politically contentious.
The Trump administration has the power to enact substantial bank deregulation on its own without legislation.
The Intercontinental Exchange (ICE) has said current regulations and the possibility of new regulations could ‘adversely’ affect its business and ability to compete in certain markets.
The risk with the EU’s new trading rulebook is that its problems could surface much quicker than its benefits.
Sharon Bowen, the Democratic member of the US Commodity Futures Trading Commission, said she sees possible common ground with chief Christopher Giancarlo on the most contentious part of the automated trading proposal.
For the second year in succession, UBS and JP Morgan have won the top two prizes in Profit & Loss’s Digital FX Awards, which were presented at a dinner sponsored by LMAX Exchange in London last night.
US bank is checking out as many as eight cities including Paris, Frankfurt, Luxembourg and Dublin.
Buy-side derivatives users are facing a new funding cost generated by a settlement timing mismatch under the new derivatives margin rules.
Cost of implementing GDPR ‘could reach hundreds of millions’ for largest banks.
OTCXN says it is essential to gain the support of regulators and lawmakers if blockchain is to be widely adopted.
Two fintechs firms based in Switzerland plan to offer the services that banks have so far reserved for their large corporate customers.
The rand reversed its early losses to swing into positive territory after reports that senior members of the country’s ruling African National Congress had moved to block the President from sacking his finance minister.
Most Asian currencies edged lower versus the dollar, as weakness in the euro helped bolster the greenback, with China’s yuan touching its lowest level in nearly a week.
The Canadian dollar strengthened against its US counterpart as the price of oil, one of Canada’s major exports, rose for the second day in a row.