Foreign exchange trading out of London has fallen 12 percent over the last three years to an average $2.41 trillion (2 trillion pounds) a day, driven by a fall in spot market and hedge fund activity, the Bank of England said.
The dollar dipped, pulling away from 14-year highs hit last week on expectations of a faster pace of US monetary tightening, as investors booked profits and lightened hefty bets on the currency into the end of the year.
US dollar net long positions were little changed last week, affirming a trend in place for the last several weeks since the election of Donald Trump as US president.
When it comes to the US dollar in a global market… strong is a problem.
Icap is preparing to process thousands of foreign exchange trades on blockchain technology amid signs the emerging standard is encroaching on global markets.
A key lending rate in Hong Kong for renminbi lending has dug its heels in at 10 per cent, unchanged from Friday’s unusually round level.
China’s leaders pledged to keep its currency stable and trim bloated heavy industry as they wrapped up an annual planning meeting amid pressure from US President-elect Donald Trump and European leaders over trade.
- As Yuan Weakens, Chinese Rush to Open Foreign Currency Accounts – Reuters
- Trump Isn’t Going to Like What One Bank Has to Say About China’s Currency – Business Insider
- Goldman Warns China Outflows Rising in Both Yuan Payments, Forex – Bloomberg
While surging global bond yields are hampering the Bank of Japan’s efforts to cap long-term interest rates, a broad US dollar rally is helping the central bank’s new framework achieve what matters most: a weakening yen.
The world is dividing into much more definitive currency blocs.
The Swiss National Bank said its Bank Council approved allocating 4.6 billion Swiss francs ($4.49 billion) to 2016 currency reserve provisions, raising the provisions to 62.8 billion francs.
The rupiah’s reign as Southeast Asia’s best currency is set to be short-lived as the supportive inflow from a $12.3 billion tax amnesty program is about to be slammed shut.
With the US dollar potentially strengthening further, would prospects for the ringgit weaken despite Government measures to stabilise the local currency?
While economic analysts argue over whether the weakening kyat is a preventable blight on the economy or a natural by-product of global macroeconomic conditions, a second question has arisen – how to tell if the currency is actually at record lows against the US dollar.
The Chinese yuan has taken on more prominence in recent months, thrust into the limelight as it continued to unwind against the US dollar.
Sentiment towards EM is better than 12 months ago, but Trump and Fed pose a threat.
The biggest FX shock move of the year happened on the night of the UK referendum… but not to sterling.
Greenback’s sharp appreciation since election poses real problems for other assets.
The Commodity Futures Trading Commission Division of Clearing and Risk granted US swap participants temporary no-action relief from the required clearing rule with respect to swaps entered into with eligible affiliate counterparties located in Australia and Mexico.
Russia’s rouble currency is unlikely to strengthen to the extent that it would threaten financial stability, Russian central bank governor Elvira Nabiullina told a news conference.
The Central Bank of Jordan’s (CBJ) decision to raise key interest rates last week was an attempt to boost the attractiveness of the Jordanian dinar, economists said.
A US District Court Judge has found that an employer effectively stole $300,000 from her employer by trading non-competitively on CME against an account held by her mother.
Moving clearing out of London would raise costs for banks, according to ICE working paper.
Bitcoin, that nebulous digital currency that trades in cyberspace and is “mined” by code-cracking computers, emerged as a better bet this year than every major currency, stock index and commodity contract.
Recent M&A deals have been hundreds of millions as massive venues mop up institutional FX firms – not retail client bases for a few million.
The Malaysian ringgit matched a post-1998 low set last year and the South Korean won hit a nearly six-month low, after the US Federal Reserve last week signalled a faster-than-expected pace of interest rate rises in 2017.
The Australian dollar hovered close to a six-month low as the federal government’s mid-year economic and fiscal outlook couldn’t quite dispel fears of a ratings downgrade despite all three major ratings agencies confirming the country’s triple-A rating, for now.
The rupee depreciated by six paise to 67.82 against the US dollar in early trade at the Interbank Foreign Exchange due to increased demand for the American unit from importers amid foreign fund outflows.