The dollar edged down, while the Canadian dollar traded close to an eight-month low on persistent worries about a trade war stemming from US President Donald Trump’s proposed tariffs on imported steel and aluminium.
- Loonie Slides to Eight-Month Low Amid Steel, Nafta Jitters – Financial Times (subscription)
- Trade Fight Boosts US Dollar Against Canadian Currency – Wall Street Journal (subscription)
A less hawkish BOC wouldn’t bode well for a Canadian dollar that’s already the worst performing Group-of-10 currency this year.
Sterling dipped as investors sold the pound amid ongoing uncertainty about whether Britain and the European Union can agree a transition deal later this month for when the UK leaves the EU next year.
Currency manager files new application to court on March 1, claiming HSBC traders, including Stuart Scott, front-ran at least one of its orders.
Disclosures show striking differences on pre-hedging, hold times and trade acceptance.
Theresa May is right to say that the European Union has included financial services in its previous trade deals. Whether she’d appreciate getting the same terms after Brexit is another matter.
Abolishing a tarnished benchmark reference rate such as Libor is proving far harder in practice and comes in spite of regulators pushing the market towards adopting a replacement.
A former short-term interest rate derivatives trader at Deutsche Bank has been fined £180,000 and banned from the industry for manipulating Libor submissions.
The Senate is preparing to scale back the sweeping banking regulations passed after the 2008 financial crisis, with more than a dozen Democrats ready to give Republicans the votes they need to weaken one of President Barack Obama’s largest legislative achievements.
A new blog by economists at the Federal Reserve Bank of New York (NY Fed) shows that ratings agencies and financial markets are divided about whether the Dodd-Frank Act has significantly reduced the “too big to fail” problem.
The Federal Reserve is considering “broad revisions” to how banks comply with a rule that prevents them from engaging in certain types of trading and investing.
Sixteen cryptocurrency exchanges in Japan have formed a new self-regulatory organization, an effort that comes in the wake of the $500 million theft in January.
The CFTC and other US regulators have to date eschewed the UK model of establishing a regulatory sandbox, an approach that has been replicated in many other parts of the world.
Capitolis, the financial services technology provider established by former Traiana CEO and head of EBS Brokertec, Gil Mandelzis; former CEO of Thomson Reuters, Tom Glocer; and Igor Teleshevsky, also formerly of Traiana, says it has secured two rounds of financing.
Standard Chartered’s global co-head of foreign exchange cash trading, who has spent most of his 30-year career in the City of London, has quit to run the sales and trading business of a small German bank in Dusseldorf.
The top 10 are generating as much $3 million in fees a day, or heading for more than $1 billion per year, according to estimates compiled by Bloomberg.
The world’s biggest cryptocurrency by market value rose above its 50-day moving average for the first time since mid-January, up as much as 5.8 percent on Monday, the most in two weeks.
Asian currencies may be on the verge of a correction after completing the best year in at least two decades. The warning sign? Indonesia’s rupiah slumped to a two-year low last week.
With return of inflation, rate increases and possible dollar strengthening, can they repay their rising debts?