Malaysia’s central bank will crack down on wrongdoing in the foreign-currency market, such as fixing of the exchange rate, to ensure stability in the ringgit, Governor Muhammad Ibrahim said.
The dollar edged up against the yen and euro, pulling away from recent lows, but gains were capped as investors focused on a showdown between US President Donald Trump and members of his own party over a new healthcare bill.
- Markets Still Hanging on US Healthcare; Dollar Recovers Some Ground – Financial Times (subscription)
- Dollar Steady as Republicans Delay Health-Care Vote – Wall Street Journal (subscription)
Sterling fell against the dollar and euro, retreating from the previous session’s one-month highs, as investors braced for Britain’s beginning the formal process of leaving the European Union next week.
Officials express irritation over former governor’s upbeat Brexit stance.
Monetary union is being wrongly scapegoated by European populists for the continent’s economic ills, the chief economist of the European Central Bank has warned ahead of the 60th anniversary of the founding of the EU.
Barclays became the latest big bank to back off its forecast for the euro to fall below parity with the dollar, saying that it now sees the single currency falling to as low as $1.03 this year before gradually recovering.
Weakness in the US dollar, spurred this week about uncertainties about US President Donald Trump’s ability to push through his pro-business agenda, has buoyed the Japanese currency.
Mexico’s peso currency is still undervalued, but by no more than 10 percent, Central Bank Governor Agustin Carstens said in an interview with Bloomberg.
South Korea’s finance minister said the possibility of the United States branding South Korea a currency manipulator could not be ruled out, if the United States changes its criteria.
Switzerland’s central bank bought another 67.1 billion Swiss francs (54.17 billion pounds) worth of foreign currencies in 2016, almost a quarter less than the previous year, in its effort to fight the appreciation of the safe-haven franc.
Oil is re-asserting its stranglehold on the currencies of energy producers.
After a radical reform, investors are returning, but can Cairo stay the course?
In-house banks offer the prospect of more efficient management of FX exposures for corporations, but putting the necessary infrastructure in place presents a considerable implementation challenge.
Currency markets are often considered the enemy of a quantitative multi-asset investor.
“We’ve built an unstoppable, uncensorable world computer,” says one blockchain developer.
Europe’s executive arm will investigate whether investment firms have found a way to circumvent sprawling financial services reforms due to enter force next January, according to a letter.
Chair of the European regulator Steven Maijoor has criticised the European Commission’s recent proposals on central counterparty resolution and recovery.
Exempting ailing banks from CCP wind-up process could force wider allocation of losses.
The acting head of the US Securities and Exchange Commission has directed the regulator to launch a pilot plan that would test how the market would be affected if exchanges lowered the fees they charge brokers to execute trades.
Deutsche Bank has agreed a deal to move to a new City headquarters, defying fears that large financial institutions are planning to leave the capital after Brexit.
British-based banks would be foolhardy to expect to retain access to European Union markets in return for sticking closely to the bloc’s rules after Brexit, a senior banking official said.
- US Investment Banks Scout Frankfurt Office Space Market: Helaba – Reuters
- In Blow to London, EU Considers Passporting for Fintech Services – Reuters
Analysts at Dutch lender ING have written to clients telling them that the warning lights are flashing on the global financial marketplace.
The Brazilian real weakened after the country’s lower house of Congress approved a government-sponsored bill by a narrower margin than expected, raising concerns of fading support for a planned pension reform.
The Australian dollar continued to weaken overnight, both against the US dollar and the major crosses.
The Canadian dollar weakened against the greenback with a fall in oil prices, but losses were muted a day after the Canadian budget as investors grappled with an uncertain outlook for the policies of US.