Sterling has hit its firmest level against a trade-weighted basket of currencies since shortly after Britain voted to leave the European Union in June, 2016, data showed as the pound enjoys broad-based gains.
The dollar held near a two-week low against a basket of currencies as investors remained cautious over possible Western military action against Syria, while the euro was also steady before minutes of the ECB’s March meeting.
The rouble fell to its lowest levels since 2016 as tensions with the United States over new punitive sanctions and the conflict in Syria eclipsed any benefit from higher oil prices.
Hong Kong’s dollar fell to the weak end of its permitted band for the first time since the range was imposed in 2005, a warning sign for a city where easy money has stoked a property boom and underpinned the stock market’s record rally.
China needs to keep some ammunition in case of any escalation in the Trump trade spat.
Currency traders fail to translate price swings into profits.
State Street is the latest custodian bank to eye a move into FX prime brokerage.
Philippe Moryoussef, a former trader at Barclays, went to France ahead of a London trial on charges that he rigged a key benchmark rate, saying that the proceedings wouldn’t be fair.
The FX industry has the computers to manage matters when markets are “normal”, but as has been proven in fairly recent events, they can’t handle events as they either switch off or exacerbate the move.
The two largest clearers of US dollar interest rate swaps will start clearing derivatives referencing the new secured overnight financing rate (SOFR) in the third quarter – ahead of the first quarter of 2019 targeted by the Alternative Reference Rates Committee.
Commodity Futures Trading Commission Chair Christopher Giancarlo said financial regulation must focus on solving demonstrable not “mere incidents of bad behavior.”
Wall Street banks could face higher capital hurdles under a Federal Reserve proposal that would mark the most significant rewrite of requirements put in place after the 2008 financial crisis.
The SmartStream Reference Data Utility (RDU) in collaboration with a group of Approved Publication Arrangements (APAs), including Bloomberg, Deutsche Boerse, NEX Regulatory Reporting, TradEcho, Tradeweb and Trax have launched a detailed Systematic Internaliser (SI) Registry.
DTCC-Euroclear Global Collateral (Global Collateral), a joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), and NEX, have announced a new partnership to streamline and improve OTC derivatives margin call processes.
Millennium is the first major UK-based buy side asset management firm to sign up to ELAC, which was launched last year and has also been adopted by ANZ Bank among others.
In a sign that cryptocurrency will increasingly be absorbed by mainstream institutional investors and subject to best practice in financial services while regulations are being worked out, is the first cryptocurrency brokerage from BCB Group.
Sweden’s currency weakened against the euro after a round of inflation data undershot expectations, adding fuel to concerns over the Riksbank’s cautious stance on tightening monetary policy.
The Turkish lira sank to record lows, battered by investor concern about monetary policy and inflation, a sell-off that President Tayyip Erdogan dismissed as an economic attack by enemies of the state.
Bitcoin remains neutral in a range of $6,492-$7,007 and an escape could suggest a direction.