JP Morgan Hopes to Finish Justice Dept FX Deal In Weeks – Law360
JP Morgan hopes to complete a settlement with the US Department of Justice over alleged manipulation of the foreign exchange market in “the coming weeks,” the bank’s chief financial officer said Tuesday.
Report: Currency Hedging May Actually Increase Risk Exposure – Profit & Loss (free story)
Investment management firm GMO has issued a white paper warning US investors that currency hedging a foreign equity investment may actually increase the risk of that investment.
IMF to ‘Closely’ Examine Currency Swings – The Business Times
Top finance officials from the world’s leading economies are keeping a close eye on exchange rate swings and will discuss developments in China’s currency at talks in Washington this week, a German government source said.
Yuan Forecasts Rebounding Amid Push for Reserve Currency Status – Bloomberg
Analysts are raising yuan forecasts for the first time since September as China’s push for reserve currency status at the International Monetary Fund damps concern depreciation will be used to revive the economy.
Euro Tumbles as ECB’s Draghi Seen Sticking to Bond-Buying Plan – Bloomberg
The euro fell against the dollar before European Central Bank President Mario Draghi presents a review of the institution’s 1.1 trillion-euro asset-buying plan that aims to revive the region’s economy and stoke inflation.
Sterling Dips vs Dollar, All Eyes On Polls – Reuters
Sterling fell a third of a percent against a broadly stronger dollar on Wednesday, but was around 2 cents above 5-year lows hit earlier this week as questions continue about the impact of elections next month.
Turkish Lira Entering ‘Free Fall Territory’ – Financial Times (subscription)
The Turkish lira has hit yet another new low, despite the country’s central bank saying that it is considering further interventions to calm markets, leading to warnings that the currency is now entering “free fall territory”.