Banks with big trading desks have reported huge year-over-year gains in revenue from fixed income, commodities and currencies.
The drop in sterling and some weakening in demand following the vote to leave the European Union have eaten into the earnings of foreign firms operating in Britain, companies have been saying as they reveal their third quarter results this month.
Sterling jumped the most in three months in a rollercoaster session, as suggestions that parliament will have to ratify a British deal to leave the European Union outweighed concerns about a larger-than-expected rise in inflation.
Pound rises above $1.22 as Office for National Statistics shows inflation hits highest level since November 2014.
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CCPs estimated to have called for cumulative $30–40bn in margin.
The Financial Industry Regulatory Authority fined Bank of America’s Merrill Lynch $2.8 million for what it called systemic violations in record-keeping and how the firm reported trades and order audit trail system data.
The European Central Bank said that virtual currencies such as bitcoin do not qualify as currencies from a Union perspective and has called for a definition that explicitly clarifies that they are not legal currencies or money.
The yuan halted this year’s longest run of losses as data showed the nation’s economy is stabilizing.
The developing world’s worst-performing currency is forecast to strengthen as a rally in oil prices enables Malaysia to stimulate its slowing economy while curbing its budget deficit for a seventh straight year.
Egypt is unlikely to see a jump in inflation from measures to ease a foreign-exchange shortage because import prices already reflect the black market rate, a senior International Monetary Fund official said.
No broad ‘regime change’ expected for inflation targets.
Ruling could oblige gamemakers to secure virtual money with real-world yen.
The Reserve Bank of India plans to strengthen its monitoring of the rupee as the US Fed gears up to tighten its monetary policy, an event that could spark a world-wide volatility in currencies.
New York could be ‘big winner’ from EU-UK swaps tussle, says Morgan Stanley chief.
LMAX Exchange said it will file with Irish regulators in January unless UK politicians take heed, joining the ranks of London-based firms looking to the island as a gateway to European Union access once the UK leaves the bloc.
The dollar stepped back from a seven-month high against an index of currencies after US consumer prices showed a moderation in underlying inflation, prompting markets to trim bets on a December Federal Reserve rate hike.
The Australian dollar held steady against their US counterpart, while the New Zealand dollar moved higher as sentiment on the greenback became more vulnerable and as higher oil prices supported the commodity currencies.
Most emerging Asian currencies rose as tame US inflation data caused investors to trim bets on a Federal Reserve interest hike in December and as Chinese growth data soothed some concerns about the world’s second-largest economy.
Latin American stocks and currencies rose as crude oil prices settled higher and traders assessed the likelihood of a US interest rate hike following mixed signals from Federal Reserve officials.