Dozens of currency traders at some of the world’s biggest banks, from Credit Suisse Group to Bank of America, have been named in a South African probe into an alleged scheme by the dealers to manipulate the value of the rand.
China tweaked its formula for setting daily reference midpoints for its yuan currency, three sources with direct knowledge of the matter said, in what was seen as authorities’ latest move to help curb speculation in the currency.
A slowdown in China, especially if it is centred on the property market, would hit the Australian dollar very heavily.
Speculators reduced bullish bets on the US dollar to their lowest in four months, cutting net longs for a sixth straight week, according to Commodity Futures Trading Commission data and calculations by Reuters.
After a confusing week for dollar bulls, a closer look at some of the technical underpinnings of the greenback paints an even more mystifying outlook for the Trump reflation trade.
The pound rose against most major currencies, snapping a three-day fall versus the euro, at the start of another week likely to be dominated by questions about how Britain will leave the EU and the impact of Brexit on the economy.
The euro recovered some ground against the dollar after weekend talks aimed at finding a leftist unity candidate for France’s presidential election showed little sign of progress.
German Chancellor Angela Merkel said the euro has a “valuation problem” that’s beyond her control and questioned President Donald Trump’s suggestion that the German luxury cars in his New York neighborhood reflect an unfair trade advantage.
The dollar was able to make headway helped support the Nikkei index, but underlying concerns surrounding US policies and currency direction maintained a mood of caution.
As the most sensitive emerging Asian currency, South Korea’s won provides the best proxy for investors looking to bet on how the region reacts to US President Donald Trump.
The $544 trillion global derivatives market is at risk of splintering after EU regulators rejected calls to follow the US and other countries in delaying a deadline to enforce collateral requirements for transactions by six months.
Second Esma test will apply three scenarios to 17 clearing houses, but concerns remain.
The board of directors of the National Futures Association (NFA) has approved the appointment of Carol Wooding as vice president, general counsel and secretary at its February 16, 2017 meeting in Chicago.
It is possibly the worst financial regulation of all time, but at least people are now talking about the benefits of “full – only you” execution for certain trades.
The review covers the technical criteria and whether IFRIC 22 is conducive to the European public good.
The regulators may turn on the existing ones.
Despite an improving outlook for economic growth globally in 2017, Henderson, the UK fund management company, forecast another year of flat growth in 2017 because of the strong dollar, which means that dividends paid around the world are translated into dollars at a less favourable exchange rate.
Profit & Loss understands that Daniel Aitchison is leaving his role as head of FX and local markets for Citi in Japan.
Technology provider Digitec has released a new version of its D3 platform, which provides pricing and risk management solutions for FX and money market trading businesses.
The Philippine peso tumbled to its lowest level in more than a decade, with its slide picking up further momentum after it breached psychological support at 50 per US dollar.
Turkey’s lira hit the strongest level in more than six weeks against the dollar and Mongolian bonds soared after a $5.5 billion IMF-led bailout for the country, outperforming broader emerging markets.
Latin American stocks and currencies fell as profit-taking in global equities following a recent rally triggered risk aversion.