US regulators said Congress should consider expanding federal oversight of bitcoin and other cryptocurrency trading, as market cops amplify alarms about an asset class that is largely exempt from investor-protection laws.
The dollar lost half a percent against the yen, handing back earlier gains, as investors remained cautious after a heavy selloff in stock markets, and with many viewing the Japanese currency as undervalued.
Sterling consolidated gains, bouncing from a 2½-week low in the previous session, as investors held off before a Bank of England meeting on Thursday from which some expect signals of another rate hike in the next three months.
Foreign-exchange forecasters are headed back to the drawing board less than six weeks into the new year after the euro blew straight past most of their predictions for 2018.
A year after US President Donald Trump took office, heightened rhetoric out of Washington about unfair trade has kept Asian policymakers reluctant to openly talk down their currencies despite the dollar’s slump to multi-year lows.
The sentencing of Mark Johnson, the former global head of foreign exchange cash trading at HSBC who was convicted of conspiracy and wire fraud by a US jury, has been postponed until March 8, as a result of a delay in the pre-sentencing process.
Days before a surge in volatility riled equities around the world, signs of tumult were emerging in the $5.1 trillion foreign-exchange market.
A pick up in currency market volatility over the last few days after years of suppression by central banks’ easy-money policies has prompted some investors to look again at protecting against, or profiting from, sharp moves.
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As major financial institutions weave themselves deeper into the patchwork of cryptocurrency trading, they are trying to figure out how to handle conflicts that could arise when employees trade digital coins in their personal accounts.
Jay Powell received a brutish welcome from the stock market on his first day as Federal Reserve chairman, but the equity sell-off that spread across the world is unlikely on its own to force him to chart a new course on monetary policy.
Democrats fret that banks will get off easy under new Federal Reserve leadership.
A November 2017 survey of fund managers found client reporting was their biggest concern in the lead-up to Mifid II, and it remains so in the weeks following the regulation’s entry into force.
Banking regulators from seven states are streamlining the way they license some financial-technology companies, responding to the companies’ complaints over having to obtain authorizations from each state in which they operate.
The news that State Street has gone live as the 13th liquidity provider (LP) on FXSpotStream comes as the service has reported its highest ever month of average daily volumes (ADV).
Eurex Clearing’s profit sharing scheme has continued to win clearing business from London since its launch, as the battle for euro-clearing continues.
Network device provider Metamako, has teamed up with connectivity provider Redline Trading Solutions to offer an ultra-low latency end-to-end solution for automated traders.
CurveGlobal plans to launch new products, including futures based on a replacement for the scandal-hit Libor benchmark.
Decentralised systems seek to pick up digital trading market share.
The onshore renminbi, which is permitted to trade two per cent either side of a trading band set by the People’s Bank of China, strengthened 0.5 per cent against the dollar to Rmb 6.2541, its highest since the central bank triggered a sudden devaluation in August 2015.
Bitcoin rose for the first time in six days, snapping a losing streak that had helped push overall losses in digital currencies to about $500 billion, as the top US market cops said they possessed all the authority needed to regulate and risk appetite returned to financial markets.