The Foreign Exchange Professionals Association is pleased to announce the addition of INTL FCStone as the newest Supporting Member of the FX trade group, bringing the total number of institutional members of FXPA to 25.
Bank of England Governor Mark Carney will extend his time in office by a year to 2019 to guide the economy through Britain’s split from the European Union.
The pound is the world’s worst-performing currency this month, trailing behind about 150 peers, as the first signs of how Brexit will look emerged in October.
Sterling is likely to drop around five percent against the dollar soon after Britain starts its formal divorce proceedings from the European Union next year, but it is not expected to weaken to parity with the euro, a Reuters poll found.
Citigroup disclosed a new government probe involving the industry’s trading and clearing of interest-rate swaps five months after paying $425 million to resolve claims that it attempted to rig derivatives markets.
The US dollar is likely to drift higher into next year as the Federal Reserve forges a lone but gradual path toward higher interest rates, according to foreign exchange strategists polled by Reuters.
Confidence in the British Pound and the US Dollar is likely to be fraught ahead of the latest Bank of England and Federal Reserve policy meetings, with the tone of policymakers likely to come under scrutiny.
The first trio of FX platforms to report FX volumes for October indicate little change from September’s numbers although they were clearly helped by increased activity surrounding the Cable flash crash on October 7.
While policy makers haven’t confirmed it, they’re defending a de facto franc limit more than 10 percent stronger than the one they scrapped 21 months ago, according to Bank of America and the wealth-management unit of UBS Group.
The yuan headed for the first back-to-back gain in six weeks after two manufacturing gauges topped the most optimistic economist estimates and a central bank official stepped up verbal defense of the currency.
China’s yuan will weaken to its lowest level since the financial crisis in the next 12 months as rising chances of a December US interest rate hike boost the dollar, a Reuters poll showed.
As already seen in Japan in recent years, what textbooks say should happen when a country’s currency falls – its exports gain – isn’t.
A top official of the European Central Bank and the head of Mexico’s central bank are leading candidates to be the next head of the Bank for International Settlements, a person familiar with the matter said.
Europe’s top exchanges have been recognised by the main US futures regulator amid improving relations between regulatory agencies in the US and Europe.
When the UK voted to leave the European Union in June, many believed the EU might actually benefit in some ways, particularly in relation to business shifting from an uncertain UK.
LCH, the London Stock Exchange’s clearing house, has proposed to change its rules to allow futures clients to use any excess collateral held by LCH as a buffer for subsequent margin calls.
Nasdaq Clearing has reduced its Nordic buy-side clearing and collateral fees.
Financial services organisations have been slow to implement blockchain technology, but Credit Suisse has kicked off a number of projects to cut costs and address structural challenges and the all-important operational efficiencies.
The dollar edged higher as the final days of the contentious US presidential campaign overshadowed other major market events, as investors weighed the latest concerns about an FBI investigation into Hillary Clinton’s use of a private email server.
The Australian and New Zealand dollars both gained strongly on the back of a handful of upbeat Asian economic surveys as investors picked through the messages from the week’s first major central bank meetings.
The rand advanced to the strongest in almost six weeks, leading global gains against the dollar on speculation South Africa may avert a debt downgrade this year after prosecutors dropped fraud charges against Finance Minister Pravin Gordhan.