FXPA Welcomes Cantor Fitzgerald as Supporting Member The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of Cantor Fitzgerald as the newest Supporting Member of the FX trade group. “The FXPA has proven itself a well-rounded platform for positive dialogue in an evolving marketplace. This maturation will pose both new challenges and opportunities and we’re excited to join such a uniquely well-positioned association in addressing them,” says James Reilly, Senior Managing Director, Global Head of Foreign Exchange Sales and Trading at Cantor Fitzgerald.
Dollar Suffers Worst Day in 7 Years as Traders Face Fed Reality – Bloomberg The dollar plunged by the most since the Federal Reserve announced the start of its Treasury bond-buying program seven years ago, as signs of a slowing US economy helped derail bets on diverging policies between global central banks.
Brexit: Cameron Promises Sovereignty Law to Woo Johnson – Financial Times David Cameron is expected to win the eleventh-hour backing of Boris Johnson, the charismatic mayor of London, in his fight to keep Britain in the EU by promising a new UK sovereignty law.
Bets Against China’s Yuan Build as Traders Eye G20 Deal – Reuters Billions of dollars in new bets against China’s yuan have been placed on derivatives markets this week as currency dealers weigh the chance of an official devaluation around this month’s G20 finance chiefs’ meeting in Shanghai.
US Treasury’s Lew Urges China to Clearly Communicate FX Policy – Reuters US Treasury Secretary Jack Lew reiterated to China the importance of transitioning to a market-determined exchange rate in an orderly and transparent way, the Treasury said on Wednesday.
As China Slows, Recession Fears Grow – Nikkei News People are whispering the ‘R’ word about China.
Greece Fears More Austerity Pain Ahead to Unlock Bailout Loans – Wall Street Journal (subscription) Nationwide strike called to protest cuts as talks progress with creditors.