Top Headlines

Mexican Peso Rises to Highest Against Dollar in a Year – Wall Street Journal (subscription)

The Mexican peso rose to its highest level in more than a year against the dollar, leading this year’s rally in emerging-markets currencies that had fallen around the time of US presidential election.

Dollar Trades Lower Before Fed Speeches – Reuters

The dollar edged lower against a basket of currencies, as investors awaited speeches by Federal Reserve officials for signs on whether the central bank will stick to its guns and raise rates this year.

Little Joy for Pound as BoE Tightens Credit Controls – Reuters

Sterling fell almost half a percent against a broadly stronger euro, a tightening of capital controls on banks offering only brief support given competing interpretations of what it means for interest rates and growth going forward.

Draghi Optimism on Inflation Sends Euro Higher – Financial Times (subscription)

ECB president’s remarks will bolster expectations over talks on monetary stimulus withdrawal. 

Yuan Surges in Afternoon Trade Amid Talk PBOC Supported Currency – Bloomberg

China’s yuan surged both onshore and overseas amid speculation of central bank intervention and a decline in the dollar.

Markets Have Nothing Left to Fear But Fearlessness Itself – Bloomberg

Greed seems to be running the show in global markets. Fear has fled, and that may be the biggest risk of all.

Regulatory News

New Era for Financial Regulation as Top Rulemakers Step Down – Financial Times (subscription)

Little appetite for more reform as focus shifts from crisis firefighting to growth.

US High Court to Review Scope of Dodd-Frank Whistleblower Protections – Reuters

The US Supreme Court agreed to consider whether corporate insiders who blow the whistle on their employers are shielded from retaliation if they only report alleged misconduct internally rather than to the government’s Securities and Exchange Commission.

Trump Could Use Alternate Routes to Roll Back Bank Reforms – The Guardian

Though Congress is nowhere close to repealing reforms, others think Trump can inflict major and damaging change by overhauling bank rules without legislation.

Company News 

LCH Limits Substitution to Tackle Quarterly Collateral Flight – Risk (subscription)

CCP clamps down on bond-for-cash switches driven by reporting and quarter-end repo spikes.

Redline Updates Feed Handlers Ahead of Mifid II Deadline – Profit & Loss

Redline Trading Solutions has updated its InRush feed handlers for European trading venues in response to the Mifid II compliance in January 2018.

SocGen Combines Electronic and High-Touch Trading Teams – The Trade

Move to combine teams was made in response to client demands for more integrated trading services.

Market Savvy

South Korean Won Stronger on Rising Consumer Confidence – Financial Times (subscription)

The South Korean won strengthened as data showed consumer confidence in the country hit a six-year high.

‘Unshakeable’: Czech Koruna Keeps Creeping Higher – Financial Times (subscription)

The tiny, once-sleepy Czech koruna is finding new fans in the weeks after it broke higher.

Leu Rallies After Romania Names New Prime Minister – Reuters

The Romanian leu gained more than 0.2 percent versus the euro, outperforming central European peers, as the nomination of a new prime minister raised hopes of an end of a political crisis.