Sterling Hits Six-Week High as Traders Brush Off Growth Forecast Cuts – Reuters
Sterling hit a six-week high against a weaker dollar, with traders largely brushing off sharp downward growth forecast revisions and refocusing on Brexit negotiations.
Sterling Seismograph Eerily Calm on EU Summit – Reuters
For a currency that has seen some of its biggest ever one-day moves on the back of Brexit, there is a peculiar calm in sterling hedging prices surrounding December’s critical European Union summit.
Dollar Licks Wounds After Biggest Drop Since June – Reuters
The dollar nursed losses after posting its biggest loss in five months in the previous session as investors dialed down expectations on the outlook for US interest rate hikes next year based on minutes from the Federal Reserve’s latest policy meeting.
Chinese Yuan Firms on Weaker Dollar, Higher Fixing – Reuters
Most Asian currencies firmed as the US dollar weakened after the release of the minutes of the Federal Reserve’s last meeting revealed dovish tones.
Pound Devaluation: How the Lessons of 1967 Apply Today – City AM
The UK actively devalued its currency in 1967, but the 20% fall in the pound since the Brexit vote continues a long-term trend of devaluation.
Betting on Malaysian Ringgit? First Figure Out the Election Date – Bloomberg
Investors taking a bet on the Malaysian ringgit need to first guess when Prime Minister Najib Razak will call a general election.
Five Ways to Revive Zimbabwe’s Economy – BBC
In the longer term, Zimbabwe needs to have its own currency.
US Government Denies Any Joint Investigation Into FX Spot Market with UK SFO – Finance Feeds
The US Government says it conducted an investigation into the FX spot market in parallel to the investigations of the SFO, ACCC and KFTC, but there was no joint investigation.
China Central Bank Adviser Rejects Criticism of Forex Management – Reuters
China’s foreign exchange management has been effective and there has been limited impact on the economy from currency changes, a central bank adviser was quoted by an official newspaper as saying, in an apparent response to criticism from a parliament official.
Forced Relocation Policy Is Not a Good Thing: Isda – FOW (subscription)
Isda warns that location policy would have significant impact on EU markets structure.
JPMorgan Weighs Offering CME Bitcoin Futures to Clients – Bloomberg
JPMorgan is weighing whether to help clients bet on the price of bitcoin via the CME Group’s proposed futures contracts, according to a person with knowledge of the situation.
FastMatch Opens FX Tape to Public – FX Week (subscription)
FastMatch, the Euronext-owned foreign exchange trading venue, has opened up its FX Tape data to the general public, allowing individuals access for a monthly fee of €40.
Fed Minutes Leave Asia Pacific Currencies Stronger Against Dollar – Financial Times (subscription)
Major Asia Pacific currencies were holding at firmer levels trading after the US Federal Reserve signalled a near-term rate rise at its latest meeting.
South Korean Stocks Dip, Won Muted After FX Official’s Comments – Reuters
The currency pared earlier gains after a senior South Korean official said some speculators in the foreign exchange market are ignoring the government’s efforts to stabilize financial markets.
C$ Notches Nine Day High vs Weaker Greenback as Oil Rallies – Reuters
The Canadian dollar strengthened to a nine-day high against its US counterpart as oil prices climbed and minutes from the Federal Reserve’s most recent policy meeting weighed on the greenback.