The Trump administration has told senators it is considering adding rules barring currency manipulation to the North American Free Trade Agreement, according to congressional aides, a departure from past US policy that could set a precedent for other trade deals.
The dollar wallowed near six-month lows against a basket of major currencies as the US political crisis appeared to deepen, threatening to delay efforts by President Donald Trump to implement his economic stimulus plans.
- Dollar’s Extended Rally Comes to a Halt – Wall Street Journal (subscription)
- Gold Rallies as Trump’s ‘Toughest Time in Office’ Batters Dollar – Bloomberg
Sterling edged lower against the dollar as investors awaited a further reading on consumer spending in Britain, now seen slowing after it propped up the UK economy in the months following the Brexit vote.
Sterling rises when the Tories rise in opinion polls.
Mexico’s central bank is expected to keep its benchmark interest rate unchanged after five consecutive hikes, on the back of the peso’s recent rally and in spite of above-target inflation.
Canadian dollar’s trough came as the Trump administration slapped tariffs on lumber.
European supervisors want Deutsche Bank to prepare a fallback plan to lay out how it could shift the clearing of trades from London, one person with direct knowledge of the matter said, as the region seeks to guard itself against a possible hard Brexit.
While last look remains an emotive subject, discussions have moved on to its potential cost.
Growing acceptance of crypto currency, despite its speculative reputation.
Next week, more than 200 FX professionals will gather at Forex Network New York to hear industry leaders debate the most pressing issues in the market today.
The US Commodity Futures Trading Commission (CFTC) has launched LabCFTC, a new initiative aimed at promoting responsible FinTech innovation to improve the quality, resiliency, and competitiveness of the markets the CFTC oversees.
Brexit has forced the European Union to rethink its flagship capital markets union (CMU) project and urgently look for ways to create an alternative financial market to London, according to a draft EU document seen by Reuters.
Steven Mnuchin will be overshadowed during his first congressional testimony as Treasury secretary by a deepening political crisis at the White House that threatens his aspirations for tax and regulatory overhauls.
A European Union-wide financial transaction tax could be accounted for in the European budget and be offset against other national contributions, Austrian Finance Minister Hans Joerg Schelling, who spearheads work on such a tax, said.
New directive for August 10 requires implementation of negative balance protection for CFD products in Germany.
“If a bank does not think blockchain is in competition with fiat currency then they likely do not understand it.”
Rosenthal Collins Group (RGC) has appointed Brian Ager as president of the firm’s new institutional foreign exchange division in New York.
Foreign exchange broker platform EBS BrokerTec is set to enforce the participation requirements for its EBS Live Ultra datafeed from mid-June.
The unit’s new remit is to leverage content already being captured and stored internally by the exchange.
TradAir has announced that GKFX, a broker regulated by the UK’s Financial Conduct Authority (FCA), has gone live with its margin/credit FX-CFD platform.
Leading the way (down) among the more heavily traded EM currencies, the South African rand is down by 2.4 per cent against the buck, leaving the dollar at ZAR13.51.
The Australian dollar jumped back into positive territory after data showed employment rose more than expected in April and the jobless rate fell to its equal-lowest level this year.
Central European currencies fell sharply from recent highs as growing worries over Donald Trump’s US presidency led investors to cut risk.