The UK pound added to its gains after a round of data on Britain’s industrial and construction sectors exceeded economists’ forecasts.
The dollar edged lower as the euro, sterling and major currencies across Asia Pacific mostly firmed.
The euro hopped to a one-week high as investors added positions on hawkish overnight comments by a policymaker that reaffirmed bets the euro zone economy’s outlook remains robust.
Brexit is unlikely to have any impact on the contractual certainty of derivatives trades, but could affect some trade lifecycle actions, according to International Derivatives and Securities Associations (ISDA) CEO, Scott O’Malia.
More than a year on from the Brexit vote, the future of the City of London as one of the world’s biggest financial trading hubs is no clearer.
Struggling to make money amid ultra-low market volatility, misfiring hedge funds are sticking to their guns with their currency and bond bets on a weaker dollar, stronger UK pound and rising US interest rates.
With its arrest warrants and visa freezes, the Turkey-US standoff looks more like a flashpoint between enemies than a difference of views among friends.
In a recent survey conducted by Profit & Loss 57.25% of respondents said that they think the trend towards more firms using prime-of-primes (PoPs) rather than traditional FX prime brokers (FXPBs) could increase the impact of a shock event.
The US Commodity Futures Trading Commission’s newest Republican is jumping right into a contentious debate over a registration requirement for swaps dealers.
Market participants fear the European Central Bank’s single supervisory mechanism (SSM) is using Brexit as an opportunity to consolidate the supervision of swaps trading in the European Union, potentially fragmenting balance sheet management.
The Australian Securities and Investment Commission (ASIC) and Reserve Bank of Australia (RBA) have jointly welcomed the publication of new guidelines for the setting of the local interest rate benchmark, the Bank Bill Swap Rate (BBSW).
Even experts are unsure how new European rules governing financial services will work.
The new finance minister will dictate the economic direction of Europe’s largest economy and have a large influence over the euro zone.
INTL FCStone’s Global Payments Division, a London-based subsidiary, will now offer indicative foreign exchange rates, viewable in real-time for more than 140 currencies through its proprietary global payments network.
With the UK’s ring-fencing rules drawing closer, in-scope banks are ramping up their efforts to unwind or novate derivatives trades that could increase their costs in the future, opening up a window of opportunity for market participants to take advantage of attractive discounts on trades.
Diversification into clearing and other trading tools has helped widen income streams.
Credit Agricole’s global head of foreign exchange says investment is paying off and it plans to roll out algos in 2018.
Most Asian currencies turned firmer with the Korean won coming back well-refreshed from a week’s holiday and China’s resurgent yuan bolstering its regional peers.
The renminbi strengthened past the Rmb6.6 per dollar mark as China’s outgoing central bank governor called for a renewed drive to open the country’s capital account.
South Africa’s rand firmed against the dollar, recovering from a six-month low hit in the previous session as emerging market currencies suffered a broad sell-off.