G-7 Said to Ask FSB to Develop Conduct Code with Global Banks – Bloomberg
Finance ministers of the Group of Seven nations asked Financial Stability Board chief Mark Carney to work with global lenders to develop a code of conduct, two officials briefed on the discussions said.
SNB’s Jordan Says Further Rate Cuts Depend on Global Environment –Bloomberg
Further interest rate cuts by the Swiss National Bank will depend on global situation, its President Thomas Jordan said. “Whether we need to go lower with the negative rates depends on international developments,” Jordan said in a discussion with members of the Swiss public, according to the transcript published by Schweiz am Sonntag.
G7 Agree RMB Should be an IMF Reserve Currency – Profit & Loss (free story)
Finance ministers and central bankers from the seven leading industrialised countries have welcomed the possible inclusion of China’s currency in the International Monetary Fund’s (IMF) Special Drawing Rights (SDR) currency basket.
Traders’ Losses Mount as Divining Dollar’s Moves Proves Elusive – Bloomberg
Foreign exchange traders just can’t seem to figure out the dollar – and it’s costing them lots of money. An index tracking returns of 14 top currency funds just posted its first back-to-back monthly decline in more than a year. Parker Global Strategies’ measure fell 1.1% last month after dropping 0.7% in April.
Europe ESMA OTC Derivative Data Shows Forex Makes Up 56% of Trades –LeapRate
The publically available data allows market participants to monitor the extent, dynamics and trends of derivatives trading in the EU, including identifying what has been traded on- and off-venue.
Russia Central Bank Halts One-Year FX Repo Auctions as of 1 June – Reuters
The Russian central bank said on Monday it had decided to stop holding its one-year foreign exchange repo auctions as of 1 June. “Taking into account changes in the situation on the currency market, the central bank has decided to suspend as of 1 June, 2015, foreign currency repo auctions with maturity of 364 days,” the central bank said in a statement.
FX E-Trading Increasingly Widespread Amongst Asia-Pacific Corporates –Profit & Loss (free story)
Electronic dealing in FX is experiencing a surge in popularity amongst corporate treasurers in the Asia-Pacific region, according to the second Asia-Pacific Treasury Management Barometer Survey.
Czech Leaders Clash Over Euro Path as Zeman Urges Fast Entry – Bloomberg
The head of the Czech government clashed with his finance minister over whether the country needs a referendum on euro adoption as the public debate escalates about merits of ditching the national currency.