The offshore renminbi has suffered its worst week since last October as the escalating US-China trade war continues to weigh on investor sentiment.
Tensions between the US and China over trade escalated as Beijing hit back at the White House’s latest threats to impose new tariffs on Chinese imports into the US.
- Dimon Sees Risk to Global Economy in US Trade War with China – Bloomberg
- ‘It’s Becoming Childish’: Investors React to Trump’s Tariff Talk – Bloomberg
The dollar edged higher, heading for a second week of gains, as investors cut some bets against the currency before monthly US payrolls data that may signal price pressures are growing in the world’s biggest economy.
- Dollar Rebound Hinges on Jobs Report After Trade Tensions Ease – Bloomberg
- Dollar Rises Ahead of US Employment Data – Wall Street Journal (subscription)
Currency market moves as a result of the trade dispute between the United States and China have more or less run their course and only a flare-up in the conflict will change the outlook significantly, a Reuters poll of strategists suggests.
The pound languished near six week lows following a general dollar rebound as the impact of a cold weather bout on the British economy tested widespread optimism about the British currency.
US investment banks will continue to outstrip their European peers in the first quarter thanks to higher interest rates and outlays on technology, according to analysts at Morgan Stanley.
US attorneys will use bank fraud laws to pursue the former currency trader, extending the statute of limitations.
Objective to increase transparency has largely failed but liquidity remains resilient, say senior traders.
Rohan Churm has been appointed as head of the FX division at Bank of England (BoE), succeeding Rebecca Jackson.
The SEC’s highest-ranking official appears to be softening his stance toward ICOs.
Maechler says functions and volatility risks differ from traditional money.
CME Group says it handled 1,120,000 FX contracts per day in March, slightly higher than in February.
Deutsche Bank has signed the statement of commitment to the FX Global Code to support an industry-wide initiative to promote integrity in the foreign exchange market.
Coinbase, the cryptocurrency trading platform valued at $1.6 billion, is launching a venture fund that will invest in companies changing the world of finance, the company announced in a blog post.
Recent strength in the Mexican peso is unlikely to hold in coming months as US President Donald Trump doubles down on his protectionist stance, the latest Reuters survey of currency market strategists showed.
The Australian and New Zealand dollars are likely to stay resilient this year, a Reuters poll showed, even as fears of a global trade war spark wild gyrations in currency markets.
The recent cooling in the once-hot market for initial coin offerings hasn’t been as dramatic as feared, new data from industry tracker Token Report shows.