South African president Jacob Zuma’s dismissal of his well-regarded finance minister Pravin Gordhan has left the country’s currency on course for its worst week since 2015.
- South Africa’s Banking Association Concerned for Fiscal Discipline After Finance Minister Axed – Reuters
The dollar edged up and was on track for its strongest week in seven with an almost one percent rise, benefiting from a weaker euro as solid US economic data has contrasted with cooling euro zone inflation.
Sterling slipped against the dollar, as investors readied for the European Union’s official response to Britain’s letter of exit from the bloc, as well the final verdict on Britain’s economic output last year.
As the UK starts the process of leaving the European Union, an investment director at the world’s largest money manager isn’t giving up on the pound. And he’s not alone.
The euro could be about to be hit by a massive hammer in the shape of the European Central Bank with analysts at a prominent Scandinavian research house saying another round of quantitative easing is coming.
Emerging market currencies are on course for their second best quarter in the last five years as a faltering dollar and resilience in emerging market economies defy fears of a testing start to the year.
The Mexican peso climbed to its highest level since the day following the election of Donald Trump after the country’s central bank raised interest rates.
China does not have any policy to devalue its currency to promote exports, Vice Foreign Minister Zheng Zeguang said, ahead of President Xi Jinping’s first meeting with US President Donald Trump amid tensions over trade.
China’s outstanding foreign debt fell to $1.42 trillion at the end of 2016 from $1.43 trillion at the end of September, the foreign exchange regulator said.
The International Monetary Fund urged Nigeria to lift its remaining foreign exchange restrictions and scrap its system of multiple exchange rates in order to revive its economy, which is in its first recession in 25 years.
In a complex electronic marketplace, buy side – sell side communication ain’t what it used to be.
Commissioner Valdis Dombrovskis outlines plans to shut down trading loophole under MiFID II.
Clearinghouse safety, the health of derivatives markets and cybersecurity are on the agenda for a CFTC Market Risk Advisory Committee April 25 meeting, the agency said.
The European Securities and Markets Authority could extend the scope of its trading rules to cover some of the functions fulfilled by inter-dealer brokers, UBS has warned.
Japan’s financial regulators have initiated a multi-jurisdictional discussion on regulation of the financial technology sector focusing on blockchain technology, MLex has learned.
BrokerTec has acquired a majority stake in e-MID SIM (e-MID), an Italian electronic central limit order book (CLOB) platform catering to interbank deposits and overnight indexed swaps (OIS).
Euronext Chief Executive Stephane Boujnah said that it was still willing to buy the LCH clearing business.
The forced repatriation of euro-denominated clearing into Europe from London would be problematic because the UK has a preferable legal system for conducting that business, an expert has warned.
The strong franc continues to agonize Swiss exporters, with 92 percent highlighting currency risks – putting it at the top of a list of worries in a survey for Euler Hermes.
The Czech crown fell to multi-month lows in the spot market and in euro rates implied in forward contracts as the central bank’s hard commitment to maintain a cap on its value comes to an end.
- It’s Alive! Czech Koruna Pulls Back with Fresh Doubt on Break in the Limit – Financial Times (subscription)
Asian currencies eased but most remained on track for quarterly gains, supported by inflows and as the dollar was weighed down by uncertainty over the Trump administration’s economic policy agenda.
The currency, Asia’s best performer this month, has rallied 4.8 percent since December 31 as a thumping win for Prime Minister Narendra Modi’s party in state elections boosted bets for continuation of the government’s reforms agenda.