Sterling rallied as traders bet that the resignation of Britain’s Brexit minister would not endanger the prime minister and instead focused on the government’s newly-announced plan that markets believe makes a “soft Brexit” more likely.
- Pound Climbs After Davis Resigns as Brexit Secretary – Financial Times (subscription)
- Why Isn’t the Pound Moving on Davis’s Resignation? – Bloomberg
The dollar struggled near 3½ week lows against its peers after US jobs data showed slower-than-expected wage growth, while the pound retreated as a key member of Britain’s cabinet resigned over Prime Minister Theresa May’s Brexit plan.
The Chinese yuan rebounded and the euro rose to its highest since June 14 as investors bought into riskier assets following favorable US jobs data last week and evidence that trade tensions have not yet dented economic momentum.
Emerging-market currencies declined for a sixth straight week after the US fired the first shot in a trade dispute between the world’s biggest economies.
If a US or global recession is looming, it’s time to own the Swiss franc, Singapore dollar, US dollar and Japanese yen – and ditch emerging market currencies, according to analysts from JPMorgan.
Sentencing for Jason Katz, the former Barclays currency trader who pleaded guilty to price fixing, has been postponed until January 7, 2019.
As data becomes more available under Mifid II TCA providers can branch into derivatives, according to a report.
Britain’s financial-services industry is suffering a drop in foreign investment while some of its European counterparts enjoy big gains, according to a new study that shows the starkest indication yet of Brexit’s impact on the sector.
The underlying issue for the traditional news sources is how do they continue to get people to pay for the content (or in the case of Bloomberg the terminal) when markets have already reacted thanks to other, occasionally less reliable sources?
In this week’s In the FICC of It podcast, Colin Lambert has another one of his “theories” – this time about why 360T bought GTX – and Galen Stops thinks he knows why CboeFX is doing so well.
Chinese Commerce Ministry says Beijing is being forced to strike back at the US with tariffs of its own.
Banks and trading firms are finally gaining the ear of global regulators in their efforts to refine post-crisis capital rules that in recent years have been blamed for exacerbating market shocks.
The days of plain old bonds and gold are over as central banks bet some of their trillions of dollars of foreign reserves on mortgage-backed securities, corporate debt, equities and emerging-market debt.
The head of the Bank of International Settlements has predicted a bad ending for cryptocurrencies, calling for an end to their production in a recent interview.
A bitcoin exchange has hired the New York Stock Exchange’s top technology executive – the latest sign that cryptocurrency trading platforms are seeking to move beyond their rebellious roots and look more like traditional financial markets.
Bitcoin’s Lightning Network has been hailed as the saviour of bitcoin transactions – the thing that will allow the clunky and encumbered original blockchain-based cryptocurrency to compete with the likes of more nimble bitcoin cash, dash coin, lite coin and ripple.
The German government dismissed a report that it had privately raised concerns about Deutsche Bank, while JP Morgan denied it was interested in a stake in Germany’s biggest lender.
Asif Ghiawadwala set to leave Alan Howard’s firm.
Ice Clear Europe reported nine margin breaches averaging $14.6 million for the first quarter, the biggest of them $90.8 million in size.
The Mexican peso has gone from cold to hot in a span of just a few short days.
Copper and the Aussie dollar have been leading indicators of rising concerns about China’s slowing economy and mounting trade tension over the past month.
Malaysia’s ringgit was sheltered from the worst of last month’s emerging-market selloff, thanks to higher oil prices. It may be about to make up for lost time.