Top Headlines

Haven Assets in Demand After North Korea Missile Launch – Financial Times (subscription)

Market jitters buoy gold, yen and Swiss franc while stocks retreat.

Euro Above $1.20 as Draghi Gives Green Light to Forex Bulls – Reuters

The euro surged past a key level as investors grew bullish about its outlook after the head of the European Central Bank refrained from talking about the single currency’s recent strength and in the backdrop of brewing US fiscal problems.

Sterling Hits Two-Week Highs as Dollar Struggles Broadly – Reuters

Sterling rose to two-week highs against the dollar after escalating tensions in the Korean peninsula added to the greenback’s woes.

Profiting from Brexit: UK Sealmaker Benefits from Devalued Pound – Financial Times (subscription)

Weaker sterling more than offsets risk of WTO tariffs, says UK manufacturer.

Dollar Rallies Against Peso Amid Nafta Fears – Wall Street Journal (subscription)

The dollar rallied against the Mexican peso as President Donald Trump doubled down on threats to pull the US from the North American Free Trade Agreement.

Here’s Why the Mexican Peso’s Rally May Be Over – Bloomberg

The Mexican peso’s reaction to tweets by US President Donald Trump on Nafta and the border wall could signal that the currency has little room left to gain, according to BlackRock and Citigroup.

Yuan Strengthens, Nears 6.6 Level Last Seen in June 2016 – Reuters

China’s yuan strengthened against the US dollar in both onshore and offshore markets, relative to the day’s guidance and Monday’s local official close, aided by the greenback’s broad weakness.

Frankfurt Is Winning the Battle for Brexit Spoils – BBC

Despite its small size – it is home to under a million residents – and its unfair but unshakable reputation for being somewhat dull, Frankfurt is winning the battle for the spoils of Brexit Britain’s economic heart; the City of London.

The Digital Banking Executive Securing Your Money with Blockchain – Bloomberg

Amber Baldet is convincing JPMorgan Chase and other institutions that change is good.

30% of Singapore Financial Firms Already Have Blockchain Investment Plans – Singapore Business Review

And four in 10 are planning to invest in it in the future.

Regulatory News

How the Fed Is Flexing Its Muscles as a Banking Regulator – The New York Times

Recent actions against BNP Paribas of France illustrate what big bank enforcement looks like today.

The SEC Warns Investors About Potential ICO Scams and ‘Pump and Dump’ Schemes – CNBC

This is the latest sign that the SEC may be stepping up its level of scrutiny on the cryptocurrency space.

ISINs for OTC Derivatives: Is Licensing an Issue? – FinOps

Financial firms needing to create International Securities Identification Numbers for over-the-counter derivatives will have one less worry when time comes to pay for their ISINs.

SFC and Hong Kong Police Sign MoU for Increased Coordination – Finance Magnates

Increased coordination in handling financial crime will help control fraud in one of Asia’s biggest financial centers.

Company News

Fenics Agrees Chinese Data Deal – Profit & Loss

Fenics Market Data, the market data division of BGC Partners, and China Credit BGC Money Broking Company (CCT-BGC) have agreed to a distribution partnership, whereby Fenics Market Data will exclusively provide CCT-BGC’s Chinese market data products to clients.

McAvoy Joins HKEK from 360T – Profit & Loss

Roger McAvoy has been appointed as a senior vide president, market development, at Hong Kong Exchanges and Clearing (HKEX).

SGX-ICE Ringgit Futures to Have Limited Impact on Local Currency – The Edge Markets

A forex trader with a local bank says there will be very little demand for the newly introduced instrument after Bank Negara Malaysia slammed its introduction.

Chinese Bitcoin Exchange Huobi Launches New Quant Trading Platform – Crypto Ninjas

Chinese bitcoin and cryptocurrency exchange Huobi today announced the launch of new cloud-based service The new platform will focus on quantitative and automated trading of digital assets and will be provided free of charge to Huobi clients.

Market Savvy

Asian Currencies – Except Baht – Slip After Missile – Bangkok Post

Most emerging Asian currencies slipped after North Korea fired a missile over northern Japan, fuelling worries of fresh tension between Washington and Pyongyang.

North Korea Missile Knocks Emerging Stocks Off Three-Year High, Fails to Dent Yuan – Reuters

Emerging equities retreated from last week’s three-year highs after a North Korean missile test sapped Asia’s big bourses, though dollar weakness capped the losses, with China’s yuan approaching a one-year high.

Rupee Weakens to 64.03 on Month-End Dollar Demand – The Hindu Business Line

According to forex dealers, month-end demand for the US currency from importers and a weak domestic equity market put pressure on the rupee.