Tullett Prebon has completed the 1.28-billion-pound ($1.6 billion) purchase of the voice-broker business of its former rival Icap, creating a dominant firm in the business of matching trades between banks.
- NEX Completes Sale of Voice Broking to Tullett Prebon – Profit & Loss
- Tullett Prebon Just Completed the Buyout of Nex’s Voice Broking Business – City AM
Dealers are scratching their heads over a sharp move higher in EUR/USD in early Asian trading after the pair moved 130 points in one minute, before reversing.
- Euro Jumps 1.6 Percent in Minutes as Algo Orders Surprise Market – Bloomberg
- Asian Flash Surge Takes Euro to $1.07 – Reuters
A former broker at HSBC Broking has been banned for life by Hong Kong’s Securities and Futures Commission after he illegally used clients’ accounts for trading in futures markets, including FX contracts.
Adjusting portfolios as year ends for accounting and hedging purposes.
The euro jumped to its highest in three weeks in thin Asian trade, but was on track for a losing year on expectations that US President-elect Donald Trump’s policies will boost inflation and prompt the US Federal Reserve to hike interest rates more frequently.
China’s yuan strengthened against the dollar, but was on track for its biggest annual loss since 1994, which would make it the worst performing major Asian currency this year.
It has been a roller-coaster ride for sterling in 2016 as the currency plunged to levels not seen in more than a generation on the back of the UK’s vote to leave the European Union but analysts expect the currency to strengthen from current lows as Brexit negotiations start to take shape.
Brazil’s real currency and stocks closed 2016 with the best yearly performance in seven years, boosted by hopes that centre-right President Michel Temer would curb public spending following the ousting of his leftist predecessor Dilma Rousseff.
The last time this happened, the Aussie dollar plunged as low as US48¢.
All in all, probably the most interesting and eventful year since the 2007/2008 global crisis.
President-elect Donald Trump’s pick for budget chief, Mick Mulvaney, has been an active investor in gold and gold-mining stocks, often seen as a hedge against collapsing currency.
Interest rates in China are already on an upward trend as the economy improves, People’s Bank of China adviser Sheng Songcheng told Reuters in an interview.
Federal Government through the Central Bank of Nigeria needs to review and restructure the way manufacturing companies and genuine importers access foreign exchange to drive business activities in the nation’s seaport in 2017, analysts say.
Large companies will gain access to currency and money markets on the Moscow Exchange for the first time from early 2017, Russia’s central bank said.
Even many of the currency’s backers warn that another sharp correction is likely to follow.
Asian currencies rose on the last trading day of 2016, but most were set to post annual losses as the US dollar climbed on expectations of higher interest rates next year.
The British pound to Australian dollar exchange rate fell to its worst level in almost two weeks as risk-sentiment continued to benefit the AUD.
The Canadian dollar strengthened against its US counterpart, as the greenback slipped in tandem with US Treasury yields in quiet holiday trading.