Sterling steadied, consolidating some chunky gains this week especially against the euro, before a historic Bank of England policy decision where it is widely expected to raise interest rates for the first time in nearly a decade.
Financial markets braced this week for what could be the Bank of England’s first rate rise in a decade – a step into the unknown for a generation of young traders who started work after 2007 but also for the state-of-the-art technology they use.
There is no escape from the influence of central banks on the FX market – at least for the time being.
- US Dollar Edges Higher as Trump Picks Powell to Head Fed – Wall Street Journal (subscription)
- Dollar Retreats Ahead of US Tax Bill, Pound Prepares for Rate Decision – Reuters
- Dollar Rebuilds Gains as FOMC Statement Leaves December in Play – Bloomberg
China is leaving nothing to chance during next week’s visit by US President Donald Trump, and will likely fortify the value of the yuan – a regular target of attack during last year’s campaign for the White House.
Head of the Prudential Regulation Authority reiterates it is realistic to assume 75,000 jobs could go in the long-term.
The Financial Stability Board (FSB) has published a report that considers the financial stability implications of the growing use of artificial intelligence (AI) and machine learning in financial services.
One-time United States Federal Reserve board member Randy Kroszner has no regrets about the decision to slash rates and implement quantitative easing during the global financial crisis, but he warns the era of all-powerful central banks is over.
SEC’s opposition to bitcoin ETF proposals suggests bitcoin futures would need to build up a trading history before an ETF can be approved.
- Ground Zero: Digital Currencies in Asia – Waters Technology
- Bitcoin: What’s Coming in the Year Ahead – Bloomberg
Over the past decade, financial regulators have pushed for the reduction in systemic risk in the global markets but there is still much to do, according to academics.
The latest P&L Survey is online ahead of our Asian conference swing starting Thursday November 9 in Singapore, through Tuesday November 14 in Hong Kong, ending in Shanghai on Thursday November 16.