Political Risk Returns as Driver of Forex Trading – Financial Times (subscription)
Political risk, the market phenomenon of 2016, showed signs of a return, knocking the euro back on investor concerns about the French presidential elections.
Bundesbank Chief Rejects ‘Absurd’ Claim of Euro Manipulation – Financial Times (subscription)
Weidmann retorts to attack from US, raising spectre of clash over Trump’s rhetoric.
Sterling Steadies Around $1.25 as BoE Hints Hold Focus – Reuters
The British pound steadied around $1.25 after a series of swings a day earlier driven by competing signals on the outlook for growth, interest rates and Britain’s withdrawal from the European Union.
Dollar Inflicts Second Day of Losses on Emerging Markets – Reuters
Dollar strength and European political risks kept emerging markets under pressure, with equities slipping for a second straight day and China’s yuan touching a three-week low.
The Dollar: An Orderly or Disruptive Appreciation? – Financial Times (subscription)
Bigger uncertainty over currency is whether its rise creates instability and a backlash.
Stronger Swiss Franc Hints at Swiss National Bank Change of Heart – Financial Times (subscription)
Weakness in the euro leaves the Swiss franc flirting – bar its Brexit-vote surge in June – with its strongest level in 18 months.
Hedge Fund That Made 56% in FX Backs New Trading Platform – Bloomberg
Singapore-based Spark Systems will start a live trial of its currency platform in March, hoping to lure traders with lower fees than existing offerings in the city.
Global Derivatives Industry Calls for Phase-In of New Rule – Reuters
The world’s $544 trillion derivatives market warned of potential market disruption without a six-month phase-in for a new rule requiring trades to be backed by cash in case of default.
Trump’s Dodd-Frank Do-Over Diverted to Slow Lane with Obamacare – Bloomberg
President Donald Trump’s pledge to dismantle the Dodd-Frank financial overhaul is colliding with the same reality as his pledge to gut Obamacare: the Republican majority in Congress can’t decide how to make it happen and Democrats are vowing to fight.
- US Derivatives Industry Anticipates Modest Dodd-Frank Changes – Financial Times (subscription)
- Don’t Expect Europe to Lie Down Over Dodd-Frank – Bloomberg
- If Trump Repeals Dodd-Frank, It Would Be a ‘Monumental Mistake’ – CNBC
EU Watchdog Says Too Soon for New Blockchain Rules – Reuters
No specific European Union rules are needed to regulate blockchain for the time being given the sector’s still limited reach, the bloc’s securities watchdog said.
CCP Resolution Must Be Last Resort, Says WFE – The Trade
The World Federation of Exchanges urges flexibility and cross-border cooperation for CCP resolutions plans.
ICE’s Sprecher Bets on Regulatory Overhaul in Europe – The Trade
European regulation could see an overhaul post-Brexit as the region follows trends in the US, according to chief executive officer at the Intercontinental Exchange (ICE), Jeffrey Sprecher.
Regulation: The Death of Global Standards – Euromoney
Just as concerns grow that central bank monetary policy is under threat of becoming politicized, there are also fears that politics is corroding the objectivity of rule makers, putting the stability of the financial system at risk.
EBS BrokerTec Leverages New Yuniti Platform to Make a Play in Asia – Profit & Loss
Yuniti is designed to be a fully integrated trading platform that will provide a single screen view of all the liquidity pools in EBS BrokerTec’s portfolio.
FastMatch Makes Board Changes Following FXCM Scandal – Profit & Loss
FastMatch, has announced today that Brian Friedman, president, and Jimmy Hallac, managing director, of Leucadia National Corporation, have joined its board of directors.
Choussy Leaves JP Morgan, Davidson Named Clearing Head – Profit & Loss
Andres Choussy has left his position as head of derivatives clearing for the Americas at JP Morgan.
Asian Currencies Take Breather, Languish Below Recent Peaks – Reuters
Most Asian currencies were steady to firmer, but still nursed losses from the previous day when they fell on worries over European political risks and after data showed a drop in China’s foreign exchange reserves.
C$ At Weakest in Two Weeks as Oil Slides, Trade Data Mixed – Reuters
The Canadian dollar hit its weakest close in more than two weeks against a broadly higher US counterpart, with falling oil prices and concern about some details of a trade surplus report weighing.
Shekel Firm as Foreign Currency Reserves Top $100b – Globes
The shekel-dollar exchange rate is trading at last summer’s low-levels despite major foreign currency purchases by the Bank of Israel.