The US derivatives regulator will hold two meetings to discuss the procedure and operational controls for listing and trading digital currency futures it said, amid rising concerns over the risks bitcoin poses to the financial system.
The dollar fell as investors bet on faster monetary policy tightening outside the US.
A rough patch for the US dollar, which just recorded its worst annual performance in 14 years, is forecast to ease in 2018 but is not over yet, according to a majority of foreign exchange analysts in a Reuters poll.
The euro consolidated gains below a four-month high on some expectations that European policymakers may have to start withdrawing stimulus policies earlier than previously forecasted against the backdrop of a strengthening economy.
Deutsche Bank is expecting a decent year for the euro, telling clients that it expects the currency to hit $1.30 by the end of this year.
Sterling steadied against the dollar and euro, ending the week at much the same levels it started it at, with traders keen to see new developments on Brexit negotiations before taking on new positions on the British currency.
Traders have been hit hard by the January blues this year. Already dealing with seasonally low trading volume, the biggest shakeup to European regulation in a decade is making things even worse.
Jeremy Smart, head of distribution at XTX Markets, is critical of arguments that pre-hedging in the last look window enables FX market markets to keep quoting prices, even in difficult market conditions.
The US Securities and Exchange Commission warned that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors.
- Bitcoin: The Rise of the Regulators – Wall Street Journal (subscription)
- Israel Proposes Ban on Trading Shares of Cryptocurrency Companies – Reuters
Despite repeated campaign promises from President Trump to dismantle the Dodd-Frank Act, the crisis-era law remains firmly implanted in the bank regulatory system—and it seems almost certain to stay that way.
As the Trump administration approaches its one-year anniversary, the president’s Wall Street regulators are finally getting their ambitious rulemaking – and rule-easing – agendas underway.
Jobs data loom as first big test for reserve currency and policymakers.
Following the publication of the final version of Principle 17, the committee will establish three new working groups.
The LSE this week reaffirmed its commitment to open access under the second MiFID, as major European exchanges and clearing houses were granted exemptions from the requirement until July 3, 2020.
ICE’s foreign exchange and credit volumes rebounded off a dormant two-month stretch, reaching its highest reading since September 2017.
Emerging market currencies have recovered to their pre-taper tantrum peak and were making further gains, lifting a key index close to its highest level in more than six years.
Asian currencies are set to pare gains this year that they made in 2017 as the Federal Reserve raises interest rates further and Asian central banks proceed cautiously, cushioned by solid growth expectations, a Reuters poll showed.
For all the concern that the US might dump Nafta or that Mexico’s next president could upend economic policy, the peso is forecast to be the world’s best-performing major currency in the first half of 2018.