The UK pound, which has pulled back sharply since hitting a post-Brexit vote peak last month, has sustained a fresh blow after a key survey of the manufacturing sector missed economists’ expectations.
The US dollar surged into positive territory for 2018 and broke past key levels against several currencies as a divergence between growth and the interest rate outlook versus other countries spurred investors to chase the currency higher.
The dollar’s rally is undermining one of the market’s key conviction trades of the year and starting to force investors to unwind bets on both a weak greenback and a strong euro.
Algorithms are increasingly beneficial in markets where liquidity is fragmented, an expert said.
Investment bank units struggle to keep pace with US peers.
Citi’s Ayesa Latif, EMEA head of institutional e-FX sales and global head of LM e-Rates distribution, and David O’Byrne, FX global product head – Citi Velocity, talk about building a hedge fund-friendly platform.
The Securities and Exchange Commission wants to protect investors from fraud in initial coin offerings but the agency remains open to a legal way to raise money in crypto, one regulator says.
The US House of Representatives could vote in May on a bill easing bank rules adopted after the 2007-2009 global financial crisis, a leading Republican lawmaker said.
Big finance groups rely on internet storage services run by Google, Amazon and Microsoft.
New regulatory framework aims to allow European firms to continue using local benchmarks.
Former EBS CEO Jack Jeffery has been named as chairman of the board at FICC data analytics company Mosaic Smart Data.
Nicholas Zografos has joined FastMatch as a director of sales, reporting to Shawn Egger,head of sales, Americas.
Barings has announced the appointment of Dr Christopher Smart as head of macroeconomic and geopolitical research at the firm.
Online trading provider CMC Markets has responded to the recent announcement by the European Securities and Markets Authority (ESMA) that retail clients will no longer be able to use their current leverage levels, by creating a new CMC Pro account for eligible clients.
While the greenback is on track to notch its best month since Donald Trump’s election in 2016 thanks to higher US interest rates expectations and a general shift away from riskier assets, these same forces have left EM currencies nursing heavy losses.
Factors supporting the market no longer look so solid; rising US Treasury yields and a stronger dollar pose risks.
The resumption of a “cold currency war” among global central banks could trigger a stronger dollar, Pacific Investment Management Co. said.