Doubts in financial markets had already crept in about the Swiss National Bank’s commitment to the franc ceiling even before the SNB unexpectedly jettisoned the policy in January 2015, according to a paper published by the Bank for International Settlements.
The dollar fell against all its Group-of-10 peers after comments from Federal Reserve Chair Janet Yellen on inflation spurred investors to lower their expectations on the pace of US rate increases.
- Treasury Yields, Dollar Slip After Yellen Flags Inflation Uncertainty – Financial Times (subscription)
- Dollar Slides as Investors Watch Yellen Testimony – Wall Street Journal (subscription)
Sterling crept back towards $1.30 against a weaker dollar, building on the previous day’s gains after marginally better than expected labour market data kept bets for a tightening of Bank of England policy on the table.
The euro may be “reigning supreme” at the moment, but not everyone is convinced the rally can continue.
The dollar dipped against its peers after Federal Reserve Chair Janet Yellen did not sound as hawkish as many had anticipated, while the Canadian dollar stood near a 13-month high after its country’s central bank hiked interest rates for the first time since 2010.
The Australian and New Zealand dollars were the biggest beneficiaries of a second day of gains for stock markets, comments by US Federal Reserve chair Janet Yellen bolstering a global rally that dates back seven years.
When the global trade rebound came this year, Malaysia held one advantage over its peers: the cheapest currency in Southeast Asia.
And other memorable events from 40 years in the FX industry.
Now, the lawyer who once sought to topple regulatory obstacles is set to become Wall Street’s chief watchdog, President Donald Trump’s pick as the Federal Reserve’s vice chairman for supervision.
James Clinger, picked by President Donald Trump in June to head the Federal Deposit Insurance Corporation, announced on Wednesday he was withdrawing his name from consideration.
The White House is expected to nominate Russ Behnam, a Senate Democratic aide, to be a commissioner on the Commodity Futures Trading Commission as early as this week, according to people familiar with the matter.
Expectations for bank boards are being re-evaluated, Fed chief tells House hearing.
Switzerland’s financial markets regulator has approved the first Swiss private bank for bitcoin asset management, potentially paving the way for other global banks to offer digital currency products.
Execution analytics provider BestX is partnering with Cobalt, the FX post-trade processing network based on distributed ledger technology.
Noble Bank International (Noble) has hired Jason Silverstein as its general counsel.
Terence Chabe, business development manager, Colt PrizmNet, and John Sullivan, head of Capital Markets USA, at Colt Technology Services talk to Profit & Loss about the challenges posed by Mifid II compliance.
NEX is actively discussing building transaction platforms for cryptocurrencies, although Spencer said in a conference call that he and his executives haven’t made a final decision on the matter.
Bloomberg is reporting growing penetration of the Indian market, with corporations such as Gas Authority of India (GAIL), Rural Electrification Corporation (REC) and ONGC Videsh (OVL) adopting its e-FX platform, FXGO.
Asian currencies were higher as the dollar took a knock after Federal Reserve Chair Janet Yellen signalled further rate increases in the United States will be gradual at best.
The Swedish krona jumped to its strongest level in more than two months after new inflation figures beat forecasts for a second straight month, lending further support to the central bank’s recent moves to edge away from monetary stimulus.
The advance was enough to push the real back into positive territory for the year.