The Foreign Exchange Professionals Association (FXPA) provided feedback to the Global Foreign Exchange Committee (GFXC) on the “last look” practices in the foreign exchange (FX) market, and particularly on Principle 17 of the FX Global Code.
- Can Forex Traders Keep Each Other Honest? QuickTake Q&A – Bloomberg
- Last Look Consultation Closes, Outcome Uncertain – FX Week (subscription)
The dollar continued to retreat, paring back gains from a bump on Wednesday after the Federal Reserve confirmed it would begin shrinking its balance sheet.
- Dollar Fluctuates as Investors Recalibrate Positions After Fed – Bloomberg
- Dollar Stalls After Fed Decision – Wall Street Journal (subscription)
Sterling traded within a tight range against the dollar while investors waited for a speech by British Prime Minister Theresa May in which she is expected to try to rescue stalled Brexit talks.
The two-year rally across emerging-market assets is just the beginning, according to some of the world’s largest investors.
We’ve just published our Q3 edition of Profit & Loss magazine, which includes our prime services special report, and I wanted to share some thoughts about one segment of it.
Mainstream financial services firms have long been keeping an eye on cryptocurrencies, but while certain trading firms are already active in this asset class, many more heavily regulated institutions have generally shied away from the space due to compliance concerns.
The rupee’s status as one of the most-loved Asian currencies is being tested by India’s faltering economy and signs that its markets are overheating.
The Ghanaian cedi has been a barometer for economic underperformance in recent years.
Wall Street’s top regulator came under fire over its cyber security and disclosure practices after admitting hackers had breached its database of corporate announcements in 2016 and may have used it for insider trading.
European authorities have announced the start of work to identify a risk-free overnight rate, to be provided by the European Central Bank by 2020.
The overhaul of financial-services rules known as MiFID II will lead banks to reduce coverage of some companies as a price war forces them to cut costs.
RBC Capital Markets has added BestX to the transaction cost analysis (TCA) tools available to its global e-FX clients.
CME is partnering with Citi’s FX prime brokerage unit, which will act as central prime broker for the spot FX transactions resulting from the spread.
The draconian measure is undertaken following a decision by China’s Communist Party to close down all crypto exchanges, with trading volumes in the country dropping considerably.
The dollar buckled against the yen as tensions simmered on the Korean peninsula, though the sharp divergence between US and Japanese monetary policy kept the greenback on track for a winning week against the yen.
The Australian dollar recorded its biggest fall for a single session in four months, with analysts suggesting it could fall lower still.
Asian stocks fell and the Japanese yen and Swiss franc gained after North Korea said it might test a hydrogen bomb in the Pacific Ocean and escalated a war of words with US President Donald Trump.