The pound rose as traders bet that a Brexit white paper policy document could help restart negotiations on trade between the European Union and Britain for when it leaves the bloc next March.
Price Action in Cable Illuminates Market Change – Profit & Loss (subscription)
It is a real paradox that as FX trading has become faster, so the playing out of fundamental moves seems to get slower.
The dollar held at a nine-day high, bolstered by concern US inflation pressures will pick up, although worries about an escalation in trade conflict capped gains.
China’s currency weakened further as trade tensions with the US continued to weigh on the renminbi, while the dollar held onto the previous day’s gains.
Foreign-exchange traders are struggling to know which way to lean when it comes to betting on the escalating global trade war.
The rouble pared early losses, bolstered by hopes that Russian President Vladimir Putin and US President Donald Trump could move towards easing tensions between the two countries when they meet next week.
Investors trimmed their bearish positions on emerging Asian currencies over the past two weeks, a Reuters poll showed, although escalating Sino-US tensions worsened the mid-term outlook for regional units.
The European Commission said that existing financial contracts, such as derivatives or insurance, are unlikely to be affected by Britain’s departure from the European Union – a view the Bank of England described as “wrong headed”.
UK prime minister Theresa May has abandoned plans for a tight new relationship with the EU in financial services after Brexit, laying out a new proposal for a looser partnership in her long-awaited white paper.
More than 40 per cent of shareholders in Nex Group have voted against the UK financial technology company’s policy allowing management’s share bonuses to vest if a planned sale to Chicago’s CME Group goes ahead.
The Financial Stability Board (FSB) has published a statement on reforms to interbank offered rates (IBORs) and the development of overnight risk-free, or nearly risk-free, rates (RFRs) and term rates.
Proposal on US swap dealer threshold rekindles debate on definition of NDFs and window forwards.
Brett Kavanaugh has challenged the SEC in several recent cases.
Speaking at Profit & Loss Forex Network New York, Mike Gill, chief of staff to US Commodity Futures Trading Commission (CFTC) chairman, Christopher Giancarlo, and the CFTC’s COO, provided a fascinating look at how attitudes towards cryptocurrencies have changed in Washington recently.
- UK Financial Regulators Are Preparing for a World of Crypto Assets – Coin Desk
- Regulators Are Slowly Starting to Get It: Utility Tokens Are Real – Coin Desk
As cryptocurrency exchanges beef up security measures following a relentless run of heists, cyber criminals are turning their attention to stealing digital tokens directly from users.
Yuan-denominated trading in bitcoin has dropped to below one percent of the global volume, according to China’s state-run Xinhua News Agency, which cited the country’s central bank.
CME Group, the world’s biggest exchange operator, experienced a technical malfunction Wednesday that prevented some traders from accessing the market.
Hedge Funds lost 0.31% in June according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 0.62% increase in the S&P 500 Total Return Index.
Thomson Reuters has announced the launch of Eikon Digest, what it terms a personalised proprietary service containing the most significant news, research, data and information from Thomson Reuters Eikon, its financial desktop platform.
Three of the big Wall Street banks report quarterly earnings at the tail end of this week.
Turkey’s currency tumbled late below its May low, nearing five lira to the dollar, amid a sharp deterioration in investor sentiment.
The currency will strengthen by the year-end, Emirates NBD PJSC forecasts, bucking a growing consensus that sees it hitting new record lows.