The pound rose after a survey showing Britain’s dominant services industry gained momentum last month fuelled expectations of a Bank of England interest rate hike this summer.
The euro rose against the dollar but the move was limited as concerns ahead Washington’s end-of-week deadline to impose tariffs on Chinese imports kept many investors on the sidelines.
China’s currency was on track for its third biggest gain this year after the country’s central bank appeared to intervene to arrest a steep decline the previous day.
China is comfortable with a weakening yuan, intervening only to prevent any rapid and destabilising declines or to restore market confidence, as the economy loses momentum and faces further risks from a heated trade dispute with the United States, policy insiders said.
Mexico’s peso led gains among emerging-market currencies as sentiment improved overnight on speculation that Andres Manuel Lopez Obrador, the country’s next president, may seek a congenial relationship with his US counterpart.
The chair of the UK’s influential Treasury Committee has urged the City’s top policymakers and regulators to waste no time in analysing the impact of any final Brexit deal on financial firms.
UK lawmaker George Foulkes said hedge funds use of private polling data to bet on the outcome of the 2016 British referendum was a “scandal,” and called for an investigation into practices revealed in a Bloomberg report.
Pension funds will no longer be spared from mandatory clearing of OTC derivatives from August after Europe’s regulatory watchdog refused to extend their exemption from the ruling.
The UK’s Financial Conduct Authority (FCA) is to begin testing propositions relating to crypto assets, with FinTech firms chosen for its latest regulatory sandbox round.
It aims to explain how cryptocurrencies’ fundamental nature “shows how poorly understood the concept of money itself still is today” and how the Internet and social media have “muddled our sense of fact and fiction.”
BestX is expanding its best execution analytics suite to include the main digital currencies of bitcoin, ether, litecoin, bitcoin cash and ripple.
The London-based startup has been working since 2015 to get its blockchain ready for finance.
Coinbase, the cryptocurrency exchange operator, is building out a platform meant to better monitor its markets.
In keeping with data released yesterday by other platforms, CME Group and NEX Markets saw a month-on-month decline in average daily volume in June.
Banks, asset managers and big corporations have shrugged off the uncertainty around the future regulation of euro derivatives clearing after Brexit by pouring even more business into LCH, the UK clearing house.
Jason Leinwand has joined Standard Chartered as head of sponsored solutions Americas. Based in New York, he joins from FirstLineFX, a firm that he founded in 2016 to provide FX strategy advice.
Sweden’s krona bounced after the country’s central bank delivered an upbeat outlook on inflation, raising the chances that it will join the growing number of monetary authorities starting to tighten policy in the second half of the year.
Turkey’s inflation soared to a 14-year high in June, increasing pressure on President Recep Tayyip Erdogan to intervene to halt steadily rising prices.
The Iranian central bank’s efforts to stem the rial’s decline and stamp out the currency black market have backfired, undercutting President Hassan Rouhani’s case that he can parry the US war on the Iranian economy.