The pound traded near a five-month low of $1.33, hindered by worries over Brexit and further signs of sustained weakness in Britain’s economy.
The euro slipped and is set for a sixth consecutive week of losses as concerns over Italy’s debt outlook weighed on sentiment, although losses were checked after North Korea said it was still open to resolving issues with the United States.
The dollar edged lower after minutes from the Federal Reserve’s latest meeting showed the central bank plans to stay on a gradual path of rate increases even if inflation meets its target.
The Federal Reserve Bank of New York has released its Statement of Commitment to the FX Global Code.
The deadline for registering statements of commitment for the global code is only a day away, and market participants are reporting difficulties finding who has signed up, with statements spread out across eight registers – but GFXC has a plan to alleviate the problem.
Policy heads at two of London’s biggest banks have told a top Brussels lawmaker that there needs to be more “common sense” rule-making ahead of the UK’s split from the European Union.
- Standard Chartered CEO Hopes to Keep Single Market Access After Brexit – Financial News (subscription)
Designed to wipe out trades and reduce risk, trading platforms’ compression tools are increasingly being used to do the opposite, an accidental innovation that has become the primary way for some buy-side firms to trade.
President Donald Trump just took another step in his 15-month push to ease regulation of banks, this time putting his signature on the most far-reaching measure yet to loosen rules prompted by the global financial crisis.
Republicans finally managed to roll back some of the Wall Street regulations passed by Congress in the wake of the 2008 financial crisis after years of trying.
Representatives from the CFTC and the EC clashed at the Institute of International Finance spring membership meeting in Brussels this week with no signs of a breakthough.
Commerzbank and German corporate Thyssenkrupp say that this week they traded an FX forward with the transaction being instantaneously replicated in a Blockchain successfully.
The Chicago-based exchange cleared its first trades in Colombian Peso and Chilean Peso.
The UK’s top financial watchdog is running enquiries into 24 businesses dealing with cryptocurrencies, and has opened seven whistleblower reports related to the nascent asset class this year alone.
Criminals have stolen about $1.2 billion in cryptocurrencies since the beginning of 2017, as bitcoin’s popularity and the emergence of more than 1,500 digital tokens have put the spotlight on the unregulated sector, according to estimates from the Anti-Phishing Working Group.
Major cryptocurrency proponents seemed unfazed by news the Department of Justice has started a criminal probe into potential trading manipulation.
Bitfinex, one of the largest virtual-currency markets, has been a particular mystery in the crypto world.
The Swedish krona rushed higher after the country’s national debt office said it was betting on a rally, potentially causing headaches for the central bank.
Turkey’s lira has been in near-continuous decline since Recep Tayyip Erdogan was elected president in 2014 but even emerging market veterans were taken aback by this week’s rout.