Three British currency traders charged with conspiring to manipulate markets look set to agree on deals to surrender to US officials by the end of August, according to people with knowledge of the situation.
The dollar recovered more ground against the yen ahead of US jobs data that should, judging by the rhetoric of US central bankers, cement a rise in Federal Reserve interest rates later this month.
Sterling traded below seven-month highs against the dollar as investors awaited data on the construction sector in Britain while keeping an eye out for polls on the country’s general election due in less than a week.
Rally in government bonds and a pound that can’t break higher underline market fears.
China’s renminbi eased from a six-month high in early trade amid increased focus this week on the currency.
Investors say Beijing seeks to build confidence in economy amid concerns about a debt buildup and crackdown on loose lending.
The first four FX platform providers to report average daily volume (ADV) data indicate May maintained the momentum of the previous months.
The euro, S&P 500, mutual fund managers, central banks and frontier markets in focus.
Galen Stops looks at how chat room activity is being monitored and controlled following recent collusion scandals.
One of the most senior officials in European central banking has staked France’s claim to attract the lucrative euro clearing business after Brexit, saying he can’t see how operations can be allowed to stay in the UK once it has left the EU.
The Federal Reserve plans to provide more information on how its stress tests will trigger losses for bank loan portfolios, a move that should give lenders an advance look at how they might fare in the annual exams that have huge implications for how they run their businesses.
The EU’s General Data Privacy Regulation, which goes into effect in May 2018, may prove to be a greater boon than a bane for financial services firms globally.
Agency seeks input on writing own version of Labor Department rule; fiduciary rule’s backers worry SEC would water it down.
Clearing house LCH says it is seeing “good momentum” in its ForexClear service heading into the second half of the year.
FastMatch is moving its fee structure for trading on the platform to a flat rate for all participants.
Currency overlay manager Lumint has hired David Green as an executive vice president. He will continue to be based in Boston in his new role.
BNY Mellon has appointed Michelle Neal, CEO of BNY Mellon Markets Group, to the company’s Executive Committee.
A new code of conduct for the foreign exchange markets could lead to lower costs for companies exposed to these markets, experts say.
Traders in the $5.1-trillion-a-day currency market are getting a refresher course in good behavior.
Major Chinese bitcoin exchanges have started to resume allowing withdrawals of the cryptocurrency after nearly a four-month freeze that followed increased scrutiny from the central bank.
The yen was the worst-performing major currency, while a flat US dollar allowed most other pairs to creep higher.
Emerging stocks sailed higher though currencies came under pressure from tumbling oil and commodity prices and a steady dollar as investors awaited key US jobs data to glean hints about the trajectory of Federal Reserve interest rates.
Budapest stocks hit a record high and the Czech crown was testing a 3½ year peak after economic data from the United States and Central Europe lifted investor confidence.