Sterling edged down as end-of-quarter portfolio rebalancing by investors outweighed encouraging economic data, but the currency is still set for its best quarter against the dollar in almost three years.
The dollar stalled against its peers as the recovery seen earlier this week petered out ahead of the new quarter, which could potentially bring renewed pressure on the greenback.
The Bank of Japan could face criticism from US President Donald Trump as keeping the yen artificially weak if it persists in maintaining ultra-loose policy until its elusive inflation target is met, Japan’s former top currency diplomat said.
The newest idea, and one of the most intriguing, is called the market access charge. It’s a tax that would be applied to all foreign purchases of US assets (possibly excluding currency trading to avoid a fight with Wall Street).
UK authorities have intensified their efforts to maintain London’s status as a global financial centre by saying European investment banks can continue to operate much as they currently do until the end of the Brexit transition period.
With one year left until the UK exits the European Union, unease about what a final deal will look like is still reflected in markets.
If there’s one thing that has become abundantly clear over the past few years, it is that many OTC platforms have decided that they need to scale their businesses up and out in order to be successful in today’s FX market.
For businesses such as Curex, the goal is catering to asset managers, pensions and insurance companies, which Singleton views as under-served and sometimes even exploited.
While short-term US borrowing costs have surged in recent months, borrowers of dollars abroad are unexpectedly getting some long-delayed relief.
Government watchdogs are wary of bitcoin being used for illicit purposes, and now they have an example that seems ready for a Hollywood script.
The UK financial regulator has yet to press criminal charges against a bank for breaches of EU anti-money laundering rules that took effect 11 years ago, statistics show.
Cuba’s central bank quashed rumors that it would withdraw one of the Communist-run island’s two currencies from circulation over the weekend, after nervous Cubans had rushed in recent days to exchange their CUCs for pesos.
China’s central bank has extended a bilateral currency swap agreement worth 200 billion yuan ($31.88 billion) with the Reserve Bank of Australia for another three years.
Two more Japanese cryptocurrency market operators are quitting as regulators tighten oversight of the sector, which makes five exchanges closing so far in the wake of a half-a-billion-dollar cryptocoin theft in January.
The Investment Association of China (IAC) has scrapped a previously reported plan to launch a funding center to boost blockchain development in the country.
“For the benefit of its long-term survival, the industry should welcome the move away from competition on leverage.”
For analysts, the potential for rising volatility amid escalating global trade tensions suggests there’s little hope of a turnaround on the horizon.
For decades, Gulf financial markets and exchange rates have been tranquil, right up to the moments when they are not.
Tightening regulation and policy ambiguity have sucked the life out of trading in the past few months, though industry insiders say the phase may be temporary.