The Global Foreign Exchange Committee (GFXC) has named Simon Potter executive vice president of the Federal Reserve Bank of New York, as chair for a one-year term.
The dollar edged lower as some investors locked in gains on a rally that has taken the US currency to its highest level in a year.
The strengthening US dollar, tightening monetary policy and widening geopolitical risks have shaped the winners and losers in investors’ portfolios in the first half of 2018.
The pound rose against the dollar as traders waited for the release of final British economic growth numbers for the first quarter, which if revised higher could lift falling expectations of monetary policy tightening later in the year.
The euro led broad gains against the dollar on Friday after EU leaders reached a major deal on how to handle the flow of migrants into member countries.
After a sharp sell-off China’s yuan and stock markets attempted a modest recovery, yet investors were grappling with some of their worst losses in years as a bitter Sino-US trade row threatened to ruffle the world’s second-biggest economy.
- Rattled Investors Seek Protection Against Yuan Swings – Wall Street Journal (subscription)
- Magnus Sees Yuan Sliding to 2008 Low as China Policy Shifts – Bloomberg
Asia-Pacific currencies dropped virtually across the board in June as fears rose over the impending hit to economic growth from a US-China trade war.
The flexibility of any response to a big market event is too restricted, especially by narrow trading hours for 24-hour markets.
Charles Ellis, a trader and quantitative strategist at Mediolanum Asset Management, explains how data can be used to help generate alpha signals.
Deutsche Bank’s US subsidiary failed the second part of the US Federal Reserve’s annual stress tests due to “widespread and critical deficiencies” in the bank’s capital planning controls.
- Fed Test Slaps Wall Street Titans While Unleashing Record Payout – Bloomberg
- Bank Stress Tests Don’t Instill Confidence – Wall Street Journal (subscription)
The agreement, which updates the previous MoU from 2008, focuses specifically on coordinating the efforts of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in implementing Title VII of the Dodd–Frank Act, which governs derivatives trading.
The Bank of England warned UK lenders to do their homework before diving into the business of crypto currencies.
If all the hedge funds and family offices out there decided to commit a fraction of that capital to a diversified portfolio of cryptocurrencies, they may double the size of the sector.
Some digital-asset exchange like Gemini do offer custody services, but the larger and more traditional asset managers have shied away from taking advantage of them.
Barclays announced three senior appointments that it says will help to digitise its markets business.
LCH is now actively clearing trades on behalf of a Mexico-domiciled participant.
Simon Henry has been appointed by Stater Global Markets as head of compliance.
One of the bigger trends in the FX industry in recent years has been an increased focus on execution quality.
The Mexican peso led the rally in emerging markets currencies, climbing by the most in over a year as the country gears up for a historic presidential election on Sunday.
India believes the current slide in the rupee will not be prolonged as it has adequate “firepower” of foreign exchange reserves to deal with the current volatility, a senior finance ministry official said.
Investors are raising bets the Bank of Canada will move ahead with an interest rate hike next month, after Governor Stephen Poloz reiterated his outlook for higher borrowing costs.