FXPA Publishes Last Look Paper; Plans Webinar The Foreign Exchange Professionals Association (FXPA) has released the third in a series of educational papers it is producing to explain the many nuances of the FX industry. FXPA’s “Focus on Last Look” explains the origins and evolution of the practice, and its unique role in global currency markets.
Yen Surges; South African Rand Dives to Record Low in Asian Trade – Reuters The safe haven yen surged in early Asian trade on Monday as the South African slid, underscoring the risk-averse mood that has prevailed in markets since the start of the year as China has allowed the yuan to sharply weaken.
China Will Find it Tough to Achieve Over 6.5 Percent Growth Over 2016-2020: State Adviser – Reuters China will face great difficulty in achieving economic growth above 6.5 percent over the 2016-2020 period due to slowing global demand and rising labor costs at home, the China Securities Journal quotes a top state adviser as saying.
Fed Eyes Margin Rules to Bolster Oversight – Wall Street Journal (subscription) Rules limiting what portion of stocks or bonds can be purchased through borrowing are moving up the Fed’s to-do list.
The End of the Monetary Illusion Magnifies Shocks for Markets –Bloomberg Central bankers are no longer the circuit breakers for financial markets.
Global Turmoil Darkens Path to Bank of England Rate Increase – Bloomberg If Mark Carney made a New Year’s resolution to raise U.K. rates, the rest of the world isn’t helping.
A British Exit From the EU Would Have Global Consequences – Wall Street Journal (subscription) There are powerful reasons to believe Britons will ultimately vote to stay in the EU, but the alternative can’t be dismissed as a minor risk.