The Foreign Exchange Professionals Association (FXPA) voted in a slate of new Board members at its annual meeting on March 6, and re-elected Chip Lowry, Senior Managing Director at State Street Global Markets, as Chairman, and Sean Tully, Senior Managing Director at CME Group, as Treasurer.
The yen remained in reach of a 17-month high against the dollar in Asia trade as the dollar remained unchanged as concerns over a possible global trade war stayed in play.
Consensus sees further losses, yet upside risks may emerge.
FX is only major asset class showing below average volatility.
- US, China Quietly Seek Trade Solutions After Days of Loud Threats – Wall Street Journal (subscription)
- Trade War Risk Dominates Investors’ Radar Screens – Financial Times (subscription)
The British pound rose against the dollar as investors became more convinced that the Bank of England would raise interest rates in May.
Coalition’s investment banking survey shows the US dealer garnering the highest revenues in the space; HSBC jumps to second place.
Not that we will immediately notice it, because it will be a slow burn, but CME FX Link launched this morning in Asia.
Poor quality, inaccessible data and a lack of instruments covered undermine use case.
- Mifid’s Calm Start Belies Research ‘Devils in Detail’ – Financial Times (subscription)
- Fee Transparency Not Enough for Asset Managers – Financial News (subscription)
China will steadily reform and further open its financial sector while putting “equal emphasis” on preventing risks through regulation and supervision, the new central bank governor said.
Staff at the Commodity Futures Trading Commission (CFTC) have spoken out strongly in opposition to the proposed cuts to the agency’s budget contained within the US government’s latest spending bill.
Ten years after the financial crisis, Washington’s bank regulators don’t agree on best way to examine financial firms.
- Fed Official Who Bailed Out Big Banks Is Now One of Their Biggest Critics – Wall Street Journal (subscription)
NY Fed president is one of the most important positions in the Fed system.
Greater personal accountability may prompt executives to shun financial services roles.
Watchdog provides alternative to controversial investor transaction charge disclosures.
The debut of SOFR is a critical step in a quest to wean more than $350 trillion of securities off Libor.
Purchasing and selling cryptocurrency is about to become simpler for hedge funds and institutional investors, as a new Blockchain-based terminal is promising to offer transparency via sophisticated compliance software.
- World’s Biggest Cryptocurrency Exchange Is Heading to Malta – Bloomberg
- Telegram on Track to Push Its Cryptocurrency Sale to $1.7 Billion – Bloomberg
Concerns over escalating trade tensions between the US and China are rippling through a broad range of assets beyond stocks, from the currencies of Australia and Japan to raw materials.
The sharp surge of the yen and a brutal 3.6 per cent plunge for Tokyo stocks combined to give Japan the title it most dreaded: the first major casualty of the US-China trade war.
A reprieve from Moody’s, which held South Africa’s credit rating above junk status at the end of last week and lifted its outlook to stable, boosted the rand and sent yields on the country’s benchmark bonds to their lowest in almost three years.