Join the Foreign Exchange Professionals Association (FXPA) for a webinar on Wednesday, May 31, that looks at “How Does the Global Code Apply to Me?”
A YouGov poll showing support for UK Conservatives had fallen in the lead-up to next month’s general election has kept up focus on the British pound in Asian trading.
- Sterling Slides as Conservative Lead Shrinks – Reuters
- Pound Falls on Tighter Polls as Traders Wake Up to Election Risk – Bloomberg
Commodity currencies came under selling pressure as key crude benchmarks tumbled almost five per cent.
Major currencies found themselves on the back foot as the dollar edged higher during morning trade in Asia.
China’s central bank will change the way it guides the renminbi exchange rate, a move that appears designed to discourage renminbi depreciation at a time when authorities are still concerned about capital flight.
The greenback has been rising all year against the Hong Kong dollar, despite the pair’s peg.
Simon Potter, head of markets at the New York Federal Reserve Bank, urged the buyside to read the new global code of conduct for foreign exchange and take an active role in improving the market.
Andy Maack’s vision of a fair currency market doesn’t include “last look,” a controversial practice that allows dealers to back out of losing trades.
Profit & Loss readers cast large numbers of votes this year for their preferred market makers.
Mexico’s government said it bought back 40 billion pesos ($2.16 billion) of local currency bonds, using part of the money it received from the central bank earlier this year to cut its debt.
A long-awaited package of reforms designed to stop banks gaming existing post-crisis rules will be finalised “in the near future”, according to the head of the committee that sets the worldwide standards.
Banks will have more flexibility on use of internal models, but calibration still undecided.
Market participants unsure who will report client-side leg of exchange-traded derivatives trades to CCPs.
Mark Carney’s expense details reach fresh heights in accountability.
Investors looking for exposure to emerging markets FX have limited options, with most EM indices offering exposure (currency hedged or otherwise) to local equity and bond markets.
Coinbase said it suffered outages this week as the bitcoin exchange saw “unprecedented traffic and trading,” with the digital currency hitting record levels.
China’s yuan rose to a three-month high on Friday, and the Malaysian ringgit firmed to its strongest in nearly two years after OPEC and other oil producers agreed to keep output reduced for a further nine months, but most Asian currencies were directionless.
Most Latin American currencies traded sideways after the Federal Reserve dialled down some expectations that it would hike interest rates rapidly, while political uncertainty weighed on Brazilian markets.
The Canadian dollar weakened against its US counterpart, pulling back from a five-week high as oil prices sunk on disappointment that an OPEC-led extension of production cuts did not go further.