Sterling slipped further against the dollar and the euro after a major survey showed British services growing at its slowest rate since just after the vote to exit the European Union in June 2016.
The most accurate pound forecasters are keeping calm and see the currency climbing more than eight percent this year.
The dollar rose to a two-week high against a basket of major currencies after a late recovery by US equities helped the currency recover as investors reassessed the danger of a trade war between China and the United States.
Following wild price swings for markets in the first quarter, Wall Street’s trading desks are poised to report one of their best three-month periods in years.
Most leading currencies are rangebound and awaiting monetary policy cues.
As politicians wrangle over Brexit, there are already signs the market is expecting significant swap liquidity to shift to the continent.
A dislocation between the US dollar Libor/overnight index swap (OIS) basis and the cross-currency swap basis is being blamed on a fundamental shift in how domestic and foreign banks source US dollar funding.
Market participants’ ability to execute on stable and firm prices is essential for achieving best execution.
A large cryptocurrency exchange denied accusations from some customers it manipulated prices of bitcoin futures after sudden price swings on its trading platform last week.
- South Korean Cryptocurrency Executives Detained for Alleged Embezzlement – Financial Times (subscription)
- Here’s How Much Cryptocurrency Scammers Are Making by Ripping Off ‘Greedy’ Investors – Business Insider
At $5.4bn, does the purchase of NEX represent good value for CME Group?
How can we have real time settlement in the FX market when we can’t agree what the high or low is for some hours when we have an event?
The currency affects inflation more sharply than in other countries, so targeting the exchange rate rather than interest rates is more effective for achieving price stability – the central bank’s main goal.
Quants show popular risk measures fail to limit risk-seeking behaviour among traders.
President Donald Trump’s intensifying trade crusade is putting a fresh spotlight on an upcoming US assessment of foreign-exchange policies.
- Fallout from a Trade War Biggest Risk to the Market: Wall Street Veteran Peter Boockvar – CNBC
- A Trade War Will Leave Markets with Few Winners – Bloomberg
- Ex-Trump Aide Bannon: ‘To Hell with Wall Street’ View on Trade Moves – Reuters
The smart money may head for the hills anyway.
The UK Financial Conduct Authority wants asset managers to disclose more information about how they measure their performance, ramping up pressure on active funds to justify their charges.
Japan is moving toward legalizing initial coin offerings, even as countries such as China and the US restrict the fundraising technique because of their risks for investors.
Cboe has formed a Markets division to unify product, sales, business development and account coverage personnel across the company’s US equities and options, ETP listings, global derivatives and FX businesses.
CLS and NEX Group have announced that they are extending the triReduce CLS FX service to third parties. These institutions will participate in the same compression cycles as CLS settlement members.
Startup asked Gemini, Coinbase if money would persuade them.
Investors strengthened their long positions in most Asian currencies over the past two weeks, while bearish bets on the Indian rupee were reversed as trade tensions clouded the US dollar outlook.
Turkey’s currency took a blow, dropping sharply against the US dollar and hitting its lowest level on record.
Venezuela’s currency is worth even less than previously believed, with new trackers of the black-market rate showing deep discounts compared with the long-standing benchmark gauge.