The sole Republican commissioner at the main US derivatives regulator has thrown his hat in the ring to be appointed the next chairman, even as he embraced aspects of financial reforms that Donald Trump’s team wants dismantled.
The US dollar climbed broadly in early Asia trading after US Federal Reserve Chairwoman Janet Yellen warned that waiting too long to raise interest rates could invite in the “nasty surprise” of inflation.
Donald Trump may have a point: the dollar is indeed strong.
The pound steadied after a few days in which uncertainty about Brexit has seen both its biggest rise in decades against the dollar and two of its heaviest slumps in months.
The currencies market got it wrong when it sent the UK pound surging on Tuesday in its best day since the 1990s, Goldman Sachs has told its clients.
On a day many expected would see the pound sink to new depths, the currency instead responded to news that the UK would be leaving the single market by posting its best performance since the referendum – but whether the day marked a turning point or a mere relief rally, nobody can be sure.
Data from CLS reinforces that released earlier this month by trading platforms by indicating a month-on-month decline but a year-on-year rise in FX volumes.
Short-term funding costs in China shot to their stiffest level in nearly 10 years on fears of a cash crunch heading into its most important holiday of the year, but ended well off the day’s highs as state banks stepped in to offer more yuan supplies.
Asia’s worst-performing emerging-market currency in the past year is being tipped as the one likely to suffer least from the global slings and arrows of 2017.
Signals from the United States suggest the dollar could strengthen further and this would be “bad news” for emerging markets, the deputy prime minister of Turkey said at the World Economic Forum in Davos.
Sweden’s biggest currency trader is telling the market it should pay less attention to what the central bank says and more to what the bond market does for clues on the timing of the next interest rate increase.
Do trading desks really have sufficient experience and risk appetite to cope with the changing market dynamic?
About 80% of rules mandated by 2010 law have been drafted or finalized. What happens next?
Wall Street’s expectations that Donald Trump will quickly free banks from the grip of aggressive regulators could encounter a problem: Some of Barack Obama’s top appointees aren’t planning to leave anytime soon.
Central banks in Indonesia and Malaysia kept their benchmark rates unchanged to help bolster their currencies and guard against capital outflows as the US moves to tighten monetary policy.
Pressure on cross-border capital outflows eased somewhat in 2016, China’s foreign exchange regulator said at a press conference.
The Czech central bank still believes the right time to abandon a cap on its currency is around the middle of this year, its board member Lubomir Lizal said.
UBS Chairman Axel Weber said that about 1,000 of the Swiss bank’s 5,000 employees in London could be affected by Brexit, while HSBC Chief Executive Stuart Gulliver said his bank will relocate staff responsible for generating around a fifth of its UK-based trading revenue to Paris.
The bank has deployed Thomson Reuters FX Trading to connect with the world’s largest independent pool of FX liquidity.
A US financial technology start-up used by some of Wall Street’s biggest banks to remove risk in their currency derivatives portfolios is running a first fundraising to take its business to the rest of the swaps market.
Emerging market stocks fell and currencies struggled to make much headway after US Federal Reserve chair Janet Yellen said interest rates should rise steadily, boosting the dollar.
The Mexican peso is back in the firing line, dropping the most among major currencies as a report that the Trump administration is planning to renegotiate Nafta within days of taking office further cloud the outlook for Latin America’s number-two economy.
The Canadian dollar is off to its best annual start since it became a floating currency in 1970 amid a pullback in the US currency and signs the economy is picking up speed.