Most Asia FX Firmer, Cautious Ahead of US Data, Fed Comments – Reuters
Most emerging Asian currencies firmed on Monday but gains were capped by caution ahead of U.S. economic data and speeches by Federal Reserve officials this week which could add to the case for more interest rate increases than markets had expected.
Quarter of Investors Think Brexit is Likely – Financial Times (subscription)
More than a quarter of some of the world’s largest investors believe Britain will vote to leave the EU in June and have begun taking measures to protect their investment portfolios.
Sterling Insurance Cost Rises to Six-Year High – Financial Times (subscription)
The cost to insure against, or profit from, a large drop in the pound rose to a six-year high this week.
Dollar Firms as Markets Look to Rate Rise – Financial Times (subscription)
The dollar strengthened this week against a host of rivals as investors focused on the possibility of a Federal Reserve interest rate tightening during the next three months.
Petrobras Bondholders See Rare Bright Spot in Brazil’s Currency – Bloomberg
Petroleo Brasileiro SA is becoming less of a default risk in the eyes of bondholders, despite the oil producer’s mounting losses in the wake of an unprecedented bribery scandal.
Has Truce Been Declared in Currency Wars? – Financial Times (subscription)
Marc Chandler of Brown Brothers Harriman could not have been more sniffy about the idea of a currency wars truce being declared by the world’s main central banks.
Egypt Says Foreigners Invested $500 Million After Devaluation – Bloomberg
Foreign investors bought $500 million in Egyptian debt and stocks since the central bank devalued the currency this month, according to central bank Governor Tarek Amer, who said more measures will be taken to attract funds.
Sarao Loses First Round of US Extradition Fight – Financial Times (subscription)
Navinder Singh Sarao, the British futures trader accused of contributing to the so-called stock market “flash crash” of 2010, has lost his court battle and will be extradited to the US.
Japan Looks to Kickstart ‘Fintech’ Revolution – Reuters
A laggard in embracing the ‘fintech’, or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals’ cash deposits.
Ethereum, a Virtual Currency, Enables Transactions That Rival Bitcoin’s – New York Times
A new virtual gold rush is underway. Even as Bitcoin, riven by internal divisions, has struggled, a rival virtual currency — known as Ethereum — has soared in value, climbing 1,000 percent over the last three months.
Rupee’s March Rebound Sees Rajan Boost India Reserves to Record –Bloomberg
India’s foreign-exchange reserves climbed to a record as the rupee heads for its biggest monthly advance in two years.
The Downside of Funds That “Hedge” Currencies – Salt Lake Tribune
It seemed like a can’t-miss idea at the time. Investors scrambled last year to get into a new breed of exchange-traded funds, ones that own foreign stocks and use complicated trading strategies to insulate investors from the swings created by changing currency values.