Sterling hovered a cent below Tuesday’s six-and-a-half month highs against the dollar, the jury still out on whether it can make more progress on the back of optimism around the shock calling of a June 8 parliamentary election.
Prime minister’s gamble has removed some uncertainties, but added new questions.
The dollar index traded near three-week lows, dragged down by a resurgent sterling after British Prime Minister Theresa May called for an early general election ahead of Brexit negotiations.
Citing recent comments from Donald Trump, New York bank reverses its view on the dollar.
The euro hit a three-week high, benefiting from a dollar weakened by lower US rates and doubts over President Donald Trump’s promised fiscal boost, while the prospect of a snap British election kept sterling near a six-month peak.
After last year’s political shocks from the UK and the US, investors are taking no chances with the risk of a French version.
Steven Mnuchin seeks to assuage fears of US launching currency or trade wars.
China’s central bank has relaxed some of its curbs on cross-border capital outflows put in place just months ago to shore up the yuan currency, banking sources said.
Beware the rally in emerging-market currencies: the best quarterly performance in almost seven years is about to reverse.
The US Commodity Futures Trading Commission (CFTC) has further extended its no action relief for swap dealers that are subject to, and in compliance with, the margin requirements for non-centrally cleared OTC derivatives in the European Union (EMIR RTS) for failure to comply with the CFTC’s final margin rule.
In Washington DC, one of the selling points of an ambitious border-tax plan rests on a key economic assumption: the dollar will appreciate enough to offset any increase in the cost of cheap, imported goods that so many Americans have come to rely on.
Access to markets and workers in the European Union after Britain leaves the bloc is essential for maintaining healthy competition in financial services and avoiding disruption, the UK’s markets watchdog said.
Meanwhile, the Consumer Federation of America complains that the Trump administration has prematurely made up its mind to repeal or replace the fiduciary measure.
Pricing adjustments for posting non-cash collateral can run to 100bp.
SEC argues disgorgement shouldn’t be subject to statute of limitations.
The bank is using AI to reduce costs and improve accuracy as it parses voice and video recordings of bankers at work.
Derivatives giant CME Group is looking to patent a way for bitcoin miners to hedge against operational risks.
Asian currencies eked out gains as caution set in following British Prime Minister Theresa May’s call for an early general election, which sent the sterling soaring to a more than six-month high.
Yields paid on Brazilian interest rate futures fell after minutes of the central bank’s last policy meeting showed officials considered a steeper rate cut, while Mexico’s peso sagged following aggressive comments by Donald Trump on trade.
Analysts see only a gradual shift away from Australian central bank dovishness.