The US Senate has confirmed Christopher Giancarlo as the permanent chairman of the Commodity Futures Trading Commission (CFTC), while Rostin Behnam and Brian Quintenz have been confirmed as commissioners.
- Senate Confirms Giancarlo as CFTC Chairman and Two Commissioners – Wall Street Journal (subscription)
The dollar struggled near its lowest since May 2016 against a basket of currencies in the wake of weak US data, as traders awaited the key non-farm payrolls report due later in the session for potential relief.
Sterling bounced a day after posting its biggest daily loss in a month, as some investors consolidated positions after the Bank of England kept interest rates at record lows and lowered its growth and inflation forecasts.
The euro crisis is over and all is well in the world. Just ask Thomas Jordan.
China’s central bank is considering a widening of the yuan’s trading band after a major Communist party meeting this year, a largely cosmetic move that would burnish its reform credentials as official policy focuses on reducing debt.
August tends to be a lax month for currency investors, but occasionally it can be fraught.
For the foreign exchange industry, speed is also a top priority.
Despite advances in data analytics technology, foreign-exchange trade audits remain a complex process requiring access to a wide spread of information on the client as well as the market.
Trump’s top economic adviser, a Goldman alum, is a front-runner to become the next chair of the Federal Reserve.
Task force member warns of market “disorder” in tight window before Mifid II goes live.
British financial services firms are calling on their regulator to offer more transparency on potential changes surrounding European distribution, amoung other issues, after the UK leaves the EU.
The time has come to phase in an alternative to the interest-rate benchmark.
- FCA’s Libor Plans a “Reality Check” for Loans, Bonds, RMBS – Risk (subscription)
- ICE Chief Exec Says No Current Alternative to Libor – FOW (subscription)
ING is launching proprietary global emerging markets indices, aiming to provide clients with a new route for gaining exposure to emerging markets currencies.
Sandra Ro has been with the Chicago-based exchange in New York for almost six years.
Standard Chartered Bank (StanChart) has appointed Jens Andersen and Molly Duffy as co-heads, financial markets, Americas.
Joseph Baldi has resigned from his role as vice president, FX prime brokerage, at Bank of America Merrill Lynch (Baml) in New York and is set to join UNTL Capital.
Cobalt, the FX post-trade processing network based on shared ledger technology, has closed an investment from Henry Ritchotte, the former COO of Deutsche Bank, who will become a member of Cobalt’s strategic advisory board.
Usage scenarios could include benchmark replication, portfolio management and structured products, says Nex Data MD.
The Canadian dollar weakened to a two-week low against its US counterpart as prices of oil, one of Canada’s major exports, fell and investors braced for Canadian and US jobs data on Friday.
There’s no stopping the rupee. Strategists say Asia’s best-performing currency of the past six months could climb further as the Reserve Bank of India’s interest-rate cut lures more inflows into local shares.
Move raises fears notes are paving way for return of country’s dollar.