The dollar sank to a five-week low below 114 yen and was on course for its worst week since November, hit by a loss of confidence in the US reflation trade which has dominated markets since Donald Trump’s election.
- Dollar Falls After Trump Presser Disappoints Growth Bulls – Financial Times (subscription)
- Trump Trades Show Signs of Cracking on Fiscal-Stimulus Letdown – Bloomberg
- Dollar Slides After Donald Trump’s News Conference – Wall Street Journal (subscription)
Bankers are bullish but a populist president may not want to prioritise relief for big banks.
Just days from Inauguration, SEFCON VII takes a look at the incoming Trump Administration, bringing together a unique roster of speakers from across the regulatory, legislative, banking and buy side sectors.
Sterling fell to the weakest level in three months as comments by Bank of England governor Mark Carney on the risks of Brexit subsiding failed to soothe market jitters over the outlook for the UK economy.
The Mexican peso weakened to a historic low of 22.04 per dollar and the country’s stock index fell, after US President-elect Donald Trump warned US auto companies would face a high tax for products made south of the border.
Chinese currency’s outperformance versus onshore rate could help slow mainland outflows.
As China’s yuan swings back into the global spotlight, it might seem like an odd time for authorities in Beijing to loosen their grip on the tightly-managed currency.
Talks under way to exchange principal amounts on International Monetary Market (IMM) dates to allow for greater netting.
Wall Street firms are expected to post the biggest fourth-quarter trading haul since the financial crisis as the US election triggered a frenzy of global markets activity from government bonds to currencies.
Scott Fitzpatrick, CEO of Tradition SEF, talks to Profit & Loss about the ways in which the swaps market structure has – and hasn’t – evolved since the introduction of Swap Execution Facilities (SEFs).
Simply attach a copy of this document as an addendum to the Global Code of Conduct.
Mario Draghi said the European Central Bank should maintain oversight of UK’s vital clearing business even after Britain leaves the European Union, touching on an issue that became a battleground after the June referendum.
The UK’s looming departure from the European Union will pose a challenge for London’s derivatives trading and infrastructure according to Timothy Massad, the outgoing head of the US Commodity Futures Trading Commission.
New York Fed president says bankers need personal accountability and to call out bad conduct.
Leading US banks may find that a Republican plan to ease restrictions on Wall Street is not worth the additional cost of capital, a report from Fitch Ratings said.
NEX Data (Nex Data), a NEX Group business that provides global pricing data and information solutions, and Tradition, one of the largest interdealer brokers in over-the-counter commodity and financial products, announce today that they have agreed a distribution partnership.
BNY Mellon has apparently made two senior hires to its FX business.
360T Group has appointed Jack Linker as the head of bank and hedge fund sales for the Americas.
Societe Generale’s Juckes sees politics weighing on peso, pound, and lira.
Oanda’s board of directors has appointed Vatsa Narasimha, formerly its CFO, as the new CEO of the firm.
The currency’s record-breaking slide reversed slightly on as a weaker dollar provided a boost for emerging market currencies.
- Turkish Lira Rebounds, EM Stocks at Two-Month Highs – Reuters
- Turkish Lira in Biggest Daily Drop Since Coup Attempt – Wall Street Journal (subscription)
The Swedish krona is within touching distance of passing 9.50 per euro for the first time in four months, as new data showed signs the country’s stubbornly low inflation rate could finally be accelerating.
The zloty rebounded from an early fall against the euro as a general retreat in the US dollar buoyed Central European currencies, though investors remain worried about the blockade of Poland’s parliament by opposition lawmakers.