Movements in the currency markets suggested Hillary Clinton emerged victorious in the US presidential debate over Donald Trump, with notable moves in the Mexican peso, Canadian dollar and Japanese yen.
- Mexican Peso Strengthens in Sign Trump Lost Ground During Debate – Bloomberg
- Clinton, Trump Debate Triggers Rise of Risky Currencies – Deutsche Welle
Donald Trump took less than 10 seconds in Monday’s presidential debate to attack China.
The Chicago Board Options Exchange badly wants a systems upgrade.
- CBOE, Bats Deal Creates New Exchange Behemoth – Wall Street Journal (subscription)
- CBOE to Buy Bats Global Markets for $3.2 Billion – Profit & Loss
CLS Group is planning to release a payment netting service, CLS Netting, for buy and sell-side institutions’ FX trades that are settled outside of its settlement service.
Switzerland’s central bank should adjust its policy to favor negative interest rates rather than currency interventions as it seeks to weaken the Swiss franc’s appeal, the International Monetary Fund said.
Mario Draghi has not yet taken a view on the issue of moving vital eurozone clearing activities from the City of London to the continent in the wake of the Brexit vote.
The European Central Bank and the People’s Bank of China have agreed to extend a currency-swap arrangement put in place three years ago as part of a string of moves aimed at encouraging global use of the renminbi.
The yuan’s journey toward challenging the dollar as a global reserve currency is only just beginning.
- The Limited Rise of the Yuan – Wall Street Journal (subscription)
- Yuan Included in IMF Basket in October – Global Times
- IMF Plans to Launch a New Global Currency – Money Metals News Service
- China’s Devaluation Danger Is Small But Nagging – Forbes
Central banks may need to create larger swings in currencies and interest rates to keep inflation on track as globalization reduces the role of local forces, Bank of Canada Governor Stephen Poloz said.
European regulators poised to place new burdens on asset managers regarding FX.
Bank of Russia started yuan clearing centre on Friday.
Maintaining financial stability has become an increasingly important reason for EM central banks when they operate in the FX markets, research from the BIS shows.
The Financial Conduct Authority has warned consumers to be wary of trading with the virtual currency OneCoin, which claims to offer the chance to make money through the trading and ‘mining’ of virtual currencies.
Saxo Bank has announced that it is launching a brand new order execution model for its clients that are trading foreign exchange and contracts for difference (CFDs).
China’s currency held its position – more or less – as the sixth-most used currency in international transactions, suffering only a slight loss compared to other currencies which fell back as the US dollar’s dominance grew.
While Russian authorities are still trying to define the legal status of bitcoin, the virtual currency has found use in Moscow in the lobby of the country’s biggest bank.
The yen fell from a one-month high and Mexico’s peso surged as demand for havens declined as the first US presidential debate between Hillary Clinton and Donald Trump.
The US dollar slipped Monday as traders shift focus from central bank policy to the US presidential election, while the Philippine peso tumbled to a seven-year low on worries over President Rodrigo Duterte’s policies.
Price swings in Russia’s currency abated to the least in two years as carry traders hung onto the second-best returns in the developing world.
The NZD has been weakening against major currencies.