The Foreign Exchange Professionals Association (FXPA) is pleased to announce the results of its elections, which took place last week, and resulted in a slate of new Board members, as well as four officers to serve on the FXPA’s Executive Committee (ExCom).
The huge losses suffered by Bank Negara Malaysia as a result of its venture into the foreign exchange market in the 1990s should be subjected to a Royal Commission of Inquiry, said Datuk Seri Anwar Ibrahim.
President Donald Trump declared China the “grand champions” of currency manipulation on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing’s foreign exchange practices.
- Yuan Weakens After Mnuchin Says He Won’t Label China a Currency Manipulator for Now – South China Morning Post
China said it has no intention of using currency devaluation to its advantage in trade, responding to an assertion from US President Donald Trump that China is the “grand champions” of currency manipulation.
The dollar slipped and was set for its first week of falls in three, after the new US finance chief poured a little cold water on the “Trumpflation trade” that had taken the greenback to 14-year highs earlier this year.
“What’s up with the dollar?” has been the recurring question for investors lately as the reserve currency has slipped from a 14-year high set at the start of January.
Donald Trump continues to be perhaps the biggest single influence over the dollar, more than three months after his shock election victory.
Sterling slipped from a two-week high to the dollar but was still on track for its strongest week since January as concerns about politics in the United States and Europe took investors’ focus off immediate Brexit worries.
Top advisers to French presidential candidate Marine Le Pen have met with strategists and analysts from BlackRock, Barclays and UBS Group, among other firms to explain their economic program and plans to withdraw France from the euro.
The Mexican peso’s rebound continued as the currency rose to its highest level against the buck since the day following Donald Trump’s surprise election win last year.
South Korea pushed back against US pressure over its foreign exchange policy and current account surplus, with the central bank governor maintaining that the nation only acts to check extreme swings in the won.
While they’ve driven gains in 2017, currencies of commodity-led nations such as Australia, South Africa and Brazil are struggling to regain the momentum they enjoyed before Donald Trump’s election sparked a year-end reversal.
There is something intuitively appealing about the idea of a gold-backed currency – money backed by the tangible value of gold, i.e. “the gold standard.”
Regulators across the European Union can use some discretion in how they will enforce a new derivatives market rule from March 1 as long as firms show they are making an effort to comply, the bloc’s securities watchdog said.
All participants in talks on new Basel III banking reforms are keen to bring the process to a conclusion, Basel Committee Secretary General William Coen told the French Senate’s finance commission.
Failure of big clearing brokers could see clients unable to move to stable competitors.
Donald Trump is considering nominating US Bancorp Chief Executive Officer Richard Davis for the Federal Reserve Board, said people familiar with the matter, as the president prepares to start reshaping the central bank’s approach to monetary policy and Wall Street oversight.
The FT learnt that as recently as a year ago Mr Cohn, then number two at Goldman, was spearheading its lobbying at the US derivatives regulator on rules prompted by the role swaps contracts played in the 2008 financial crisis.
Key Republicans in the US House told the Federal Reserve not to issue new rules until President Donald Trump’s pick to lead regulation of Wall Street at the agency is confirmed.
A new mood of hope and determination is washing over big US banks.
Researchers from the central bank of Canada are of the opinion that private digital currencies will not survive in the future, unless the government gets involved in some way.
The Dubai Financial Services Authority (DFSA) and the European Securities and Markets Authority (ESMA) have entered into information sharing and cooperation arrangements regarding DIFC based central counterparties compliance with conditions set out in The European Union’s Market Infrastructure Regulation (Emir).
Camilla Sutton has left her position as global head of foreign exchange at Scotiabank.
After assembling a research team in 2014, the People’s Bank of China has done trial runs of its prototype cryptocurrency.
The crypto currency known for its anonymity and decentralised nature reached an all-time high, making it more valuable than gold in Australia.
The result could radically change the derivative industry’s settlements and recordkeeping processes, industry observers told Bloomberg BNA.
Asian currencies edged higher, with the South Korean won hitting a four-month high, as uncertainty over details of the Trump administration’s tax reform plan weighed on the dollar.
On track for healthy weekly gains, emerging markets hit a soft spot with stocks pulling back from a 19-month high and currencies struggling to make headway against a tepid dollar as lower commodity prices and questions over US policy weighed.
The Russian rouble firmed slightly against the dollar in early trade, pricing in gains in oil prices the previous day when the Russian market was closed.