As Mark Carney faces a grilling from the Treasury Committee, the pound has extended its fall and has dipped below $1.24.
Mark Carney said arguments by politicians that loose monetary policies in the UK and elsewhere have widened inequality miss the mark.
Pound sterling is under the hammer with foreign exchange traders turning attention away from the Trump trade and back to their 2016 favourite – the Brexit trade.
Sterling sank by more than one percent against the euro, handing back much of three solid days of gains as investors turned their eyes back to burgeoning political risks from its moves to leave the European Union.
The “Trumpflation trade” is fading, softening the dollar and leaving US government bond yields to nudge down from multi-month highs as equity markets stabilise.
China’s central bank isn’t letting off the accelerator with its latest fix for the renminbi’s trading band against the dollar, which takes it back to a level of weakness not seen since 2008.
Mexico has an array of tools to face down financial volatility in the wake of the US presidential election, Finance Minister Jose Antonio Meade said, after Donald Trump’s victory sent the peso currency into a tailspin.
Donald Trump’s electoral upset has breathed new life into the bet that diverging economic paths will drive the euro toward parity with the dollar for the first time since 2002.
Trump’s election has turned markets topsy-turvy, a boon for Wall Street and day traders alike who hope to profit from the increased trading volume.
Mary Jo White has stepped to the front of the line of financial regulators moving aside for Donald Trump’s administration.
- SEC Chairman White to Leave Agency, Opening Door to Conservative Shift – Wall Street Journal (subscription)
The SEC is weighing cybersecurity concerns as it decides whether to approve plans for a new program intended to address flash crashes in the market.
An independent study of the financial costs and benefits of Wall Street ‘stress tests’ could be released as soon as Tuesday and may strengthen calls to reform US banking rules, said sources familiar with the report.
The election of Donald Trump may allow banks to dodge the full impact of global regulators’ post-2008 crisis crackdown.
ESMA has proposed a further two-year delay from central clearing for pension funds, which were set to begin complying from June 2017.
Saxo Bank is boosting its FX prime brokerage solution with the addition of a cross-collateralisation facility between PrimeXM sites in New York, London and Tokyo where it provides FX direct market access.
The Japanese yen, jolted in a 750-plus point range against the dollar in the week since Donald Trump’s presidential win, could fall back towards a February low of 115 yen on prospects of rapid US interest rate increases.
Investors fear another currency exodus from emerging markets as foreign exchange volatility is not over for Malaysia and its Asian neighbours in the near term.
The Canadian dollar hit a new eight-month low against its firmer US counterpart before paring some losses, and Canada’s bond yields surged as investors bet that US President-elect Donald Trump will pursue policies that raise inflation.