South Africa’s Competition Commission says it is commencing prosecution proceedings against 14 banks over alleged collusion in ZAR markets.
The dollar slipped despite better-than-expected US data and a brighter outlook for higher US interest rates.
- Dollar Retreats as Treasuries Steady in Asia Trading – Financial Times (subscription)
- Dollar Slips from One-Month Peak on Profit Taking After Upbeat US Data – Reuters
Dollar strength has left markets expecting Trump to ratchet up his accusations.
Sterling gained around half a percent against the dollar, tracking broader moves in major currencies after some caution about the underlying strength of the US economy set in following a high January inflation number.
With key elections due in the Eurozone in 2017 investors will be asking where money might flow should an unsavoury election result be delivered.
China’s holdings of US Treasuries declined by the most on record last year, as the world’s second-largest economy dipped into its foreign-exchange reserves to buttress the yuan.
China has set aside the project to internationalise its currency and Asia might come to regret it.
Nader Naeimi added to his bullish wagers on the dollar against the yen this month, predicting a 10 percent gain to 125 as the Bank of Japan maintains monetary stimulus.
Currency volatility and fears of rising global protectionism have cast uncertainty over the outlook for the export-dependent economy, posing a challenge for Perng, who has long emphasized stability as a priority.
The complexity of UK banks’ swaps books is playing a behind-the-scenes role in the biggest shake-up of the industry in years – the requirement to house retail and investment banking businesses in separately capitalised legal entities from January 2019.
The Korean government is preparing a rebuttal to the article that market watchers say seems to have lost neutrality while siding with Japan where the daily’s owner is headquartered.
The FX industry has become a little complacent about its self-regulatory role.
The past year’s run of unprecedented market events has only served to highlight the growing demand for timely and reliable FX market data, yet innovation in this area has notably lagged behind the levels seen in other areas of the financial markets.
On November 3, the Egyptian Central Bank removed all exchange-rate restrictions and raised its benchmark rate by three percentage points.
The Securities and Exchange Commission’s interim chief has quietly initiated a review that could make it harder for government lawyers to open investigations into corporate wrongdoing, said three people with knowledge of the matter.
If selected for Comptroller of the Currency, Joseph Otting could mark shift from Thomas Curry, who adopted strict standards for large banks.
Daniel Tarullo, the Federal Reserve’s point man on financial regulation, said the US effort to ensure Wall Street banks aren’t too big to fail isn’t finished yet, but that he believes the progress regulators have made will stick even after the Trump administration replaces him.
Top regulators are set to meet on March 19 with the possible aim — for the second time this year — of reaching a deal on controversial global bank capital rules.
A key Republican Senator is casting doubt on hopes for quick action to dismantle the Dodd-Frank Act or overhaul the US mortgage-finance system, citing the need for bipartisan support in a Congress that seems to be far from providing it.
Approximately 100 representatives of fund management firms participated in Northern Trust’s regulatory event, revealing concerns about the upcoming regulatory storm.
London will remain Citigroup’s number one city for doing business in Europe after Brexit, according to its top banker in the region.
Currency broker FXCM, which was banned last week from operating in the United States, said its non-US monthly trading volume rose 18 percent to an estimated $253 billion in January from December.
Global foreign exchange and payments specialist Saxo Payments has unveiled Banking Circle Virtual IBAN, the group’s latest upgrade for FX and payments businesses to better streamline banking relationships and payments processing.
The Brazilian real firmed to its strongest in more than a year and a half against the dollar, while the Mexican peso weakened after US consumer prices notched their largest gain in nearly four years.
The Canadian dollar pared most of its losses against the greenback, supported by firm domestic data and optimism about the outlook for trade ties with the United States.
Emerging equities rose to a 19-month high, tracking gains in developed markets, while the Russian rouble held at 1½ -year highs but other currencies eased after recent solid gains.