Sterling fell against the dollar as nervous investors sold the pound ahead of more talks between Britain and the European Union over the terms of Brexit, and Prime Minister Theresa May’s highly awaited speech on Friday.
- Sterling Sinks to Near Three-Week Low After May Slams EU Brexit Proposals – Financial Times (subscription)
The dollar hit a six-week high, supported by what was perceived as an upbeat tone from new Federal Reserve chief Jerome Powell on the US economy, bolstering bets that interest rates will be hiked four times this year in the United States.
- Dollar Heads for Second-Best Month of Trump Presidency – Financial Times (subscription)
- The Dollar is Making Sense Again – Wall Street Journal (subscription)
The City of London’s top envoy to Brussels is worried that Brexit talks could “sour to an even greater degree” if European negotiators seek onerous terms for securing a crucial transition deal.
The US’s main commodities regulator recently told its employees that they are allowed to invest in cryptocurrencies, a determination that came weeks after the agency began overseeing bitcoin futures.
Central banks could take over bitcoin or one of its rivals should cryptocurrencies become a systemic risk to financial markets.
- JPMorgan Joins BofA in Quiet Warning: Crypto Could Disrupt Banks – Bloomberg
- For Cryptocurrency Traders, It Is Survival of the Quickest – Financial News
The Federal Reserve Bank of New York announced that it will begin publishing a new reference rate chosen by an industry group to serve as an alternative to the scandal-ridden Libor benchmark.
We have the majority of participants signed up to the FX Global Code, let’s focus on those who have not.
Institutional investors have long understood the value of diversifying their portfolios, and this usually means investing internationally.
US regulators are considering changes to the “Volcker rule” Wall Street has sought for years that would make it easier and cheaper for banks to comply and allow them more leeway in trading and investing, according to several regulatory and industry sources.
Lawmakers are proposing to overrule the European Commission and exempt derivatives CCPs from incoming capital and liquidity ratios.
The issue today is that the banks are still funding 50 percent of the Fed’s balance sheet.
In the era of Brexit, not everyone wants the Serious Fraud Office to chase rich wrongdoers out of the country.
The first three platforms have reported average daily turnover (ADV) data for February, with CboeFX (formerly HotspotFX) and Gain’s GTX hitting new peaks and Euronext’s FastmatchFX seeing its second busiest month.
Merger talks between the main hedge fund lobby groups in the UK and the US have collapsed after more than six months of discussions, depriving the industry of a global trade body sought by many market participants.
The Alternative Investment Management Association (AIMA) has appointed Claire Van Wyk-Allan as its new head of Canada.
Genesis Trading, which offers two-sided liquidity for digital currencies, has launched a new affiliate, Genesis Global Capital, an institutional digital currency lending business.
Internationalisation of the currency gaining speed in 2018 after two-year setback.
Bitcoin will likely double from here and the broader cryptocurrency market should recover by the end of March, Fundstrat’s Tom Lee says in a report.