Sterling slipped to a two-week low after the governor of the Bank of England said the central bank could not be expected to nullify the likely damage to the economy from Brexit.
Shadow chancellor plans to contain crisis in the event that victory triggers panic.
The dollar gained for a fourth consecutive day as a rise in US Treasury yields encouraged investors to trim their short bets, although markets grew cautious of chasing it higher as the currency approached the top of recent trading ranges.
- Dollar Pares Gain as Havens Tick Up, Tax Plan Faces Criticism – Bloomberg
- Dollar Jumps on Expectations for Higher US Interest Rates – Wall Street Journal (subscription)
The euro has soared by 11.7 per cent this year against the dollar.
China’s yuan eased to a more than one-month low against the US dollar, which rallied on hopes that US President Donald Trump’s administration is making progress on tax reforms.
The loonie extended its losses against the US dollar after Bank of Canada governor Stephen Poloz said the central bank that will proceed “cautiously” with any additional rate rises.
The reason “everyone does it” is because it’s the most professional and lowest impact way.
Bank of America is in talks to secure office space in Paris to move part of its trading operations to the French capital as the UK prepares its exit from the European Union, according to people with knowledge of the matter.
Not every Wall Street bank chief is bearish on bitcoin.
Global markets will need to adapt as new European rules have global ramifications.
Japan is considering lowering the maximum leverage permissible in foreign exchange trading on grounds that both retail and institutional investors are facing greater risks should the market face sudden fluctuations.
Aim is to simplify regulations for small and regional lenders.
Wolfgang Schäuble, one of Europe’s elder statesmen, is set to bow out as Germany’s finance minister in the wake of the country’s election, ending an era in which he shaped Europe’s response to its debt crisis.
Mario Draghi, president of the European Central Bank (ECB), has indicated that his institution does not have the authority to regulate cryptocurrencies.
The Securities and Exchange Commission announced plans to ramp up cybersecurity, following revelations earlier this month that hackers had accessed data for illegal trades.
FXSpotStream has onboarded State Street as the latest liquidity provider to its service, hired a new CTO and revealed plans to make a new analytics suite available to its liquidity providing banks and clients.
Integral Development has cut the fee for trading on its OCX trading platform effective immediately.
OTC Exchange Network (OTCXN) has announced that DV Trading has joined its early adopter program as a liquidity provider.
Lucera has built out a low latency pre-trade credit control tool that is fully integrated with its LumeFX stack, in a bid to help prime services providers detect and prevent credit limit breaches.
Emerging markets currencies are under fire as investors rachet up their bets on a December rate hike in the US after Federal Reserve chief Janet Yellen stuck to her views that gradual rate rises are needed despite persistently weak inflation readings.
The Taiwan currency is set to weaken further against the US dollar as investors pulled millions of dollars from the local stock market on delays to the release of Apple’s upcoming iPhone X.