South Africa’s Competition Commission has fined the local arm of Citigroup 69.5 million rand (£4.2 million) for its role in a foreign currency trading cartel, the regulator said.
South Africa’s competition watchdog has granted Barclays Africa conditional immunity from prosecution in return for its continuing cooperation in the rand currency rigging probe, the head of Competition Commission said.
The dollar gained, taking its cue from higher US Treasury yields as investors awaited minutes from the Federal Reserve’s latest meeting for signals to the pace of interest rate hikes.
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President Donald Trump’s currency manipulation complaints are having a subtle, and sometimes not-so-subtle, impact in the language and behavior of some of America’s major trading partners.
Sterling fell against the dollar but made ground versus the euro, before Bank of England Governor Mark Carney and a number of his chief lieutenants testify in Britain’s parliament.
The euro was on the defensive, under pressure from fears that the French Presidential election could upset the status quo, as rising anti-establishment sentiment surfaced after last year’s Brexit and the US election.
How much worse off are the peripheral countries in the eurozone as a result of their decision a decade-and-a-half ago to sign up for the single currency? A lot? A little?
The yen will slump to 120 per dollar in six months as the Federal Reserve raises US interest rates but that’s about as weak as it will get, former International Monetary Fund Economist Stephen Jen says.
Australia’s resurgent exports could push its currency to US80¢ and even beyond, Deutsche Bank’s chief economist Adam Boyton reckons.
Growth in rates and foreign exchange trading helped to lift fourth-quarter and full-year revenues in HSBC’s global banking and markets unit.
Where don’t you want to work in 2017? Try M&A, US, European and Asian equities, or FX.
Jay Clayton’s legal work has dealt with some of the biggest challenges agency has faced.
The only type of hedged share classes which are considered by Esma to satisfy the principle of a common investment objective are currency hedged classes.
Some of the main contenders for a new European financial hub are immune from the risks of a financial transaction tax – Dublin, Copenhagen and Amsterdam.
Nigeria’s central bank has edged closer to a full devaluation by making dollars available to private individuals at 20 per cent above the official rate.
Settlement services provider CLS Group and Nex Group’s TriOptima say that counterparties have eliminated $1 trillion in gross notional value from their outstanding FX forward and swap portfolios using the TriReduce CLS FX Forward Compression Service.
The DTCC-Euroclear margin transit utility service was initially set to launch in 2015 but has been hit by a number of delays.
BT announced that it is linking up the world’s five main foreign exchange locations to help boost the competitiveness of its global financial industry customers.
Asian currencies were on the back foot as the US dollar climbed, while stocks were on track for a second straight day of gains.
Nigeria’s naira currency weakened against the dollar in the non-deliverable forwards market as expectations of a devaluation grew, while the rand slipped too before a key budget speech by the finance minister.
The Egyptian pound’s recent surge was the strongest fortnightly move in an emerging market currency in at least five years, according to Renaissance Capital, but the EM-focused bank has warned that the currency could be setting itself for another fall.