The dollar reached its highest level since March as minutes from the Federal Reserve’s September meeting showed several policy makers said a US rate increase was needed “relatively soon.”
- Fed Rate-Rise Plan Hits Snag in Stronger Dollar, Higher Long-Term Yields – Wall Street Journal (subscription)
- Fed Policymakers Closer to Rate Hike, But Inflation Doubts Remain – Reuters
- Greenback Rallies to Highest in Seven Months – Australian Financial Review
Sterling was near a record low in trade-weighted terms as focus turned to the High Court which will hear a legal bid to force the British government to seek parliamentary approval to trigger the formal Brexit process.
Icap has acquired Abide Financial, a regulatory reporting specialist with the intention of the company becoming a subsidiary of its Post Trade Risk and Information division.
The flash crash in sterling was a “correct move” that reflected economic expectations, a senior official at Norway’s sovereign wealth fund, one of Britain’s biggest foreign investors, said.
The International Monetary Fund has warned that the UK leaving the European Union could have a significant impact on the City’s role as a euro clearing hub.
The yen regained strength against the dollar and other currencies in choppy Asia trade, after disappointing Chinese trade data helped bring an uptick in the dollar to an abrupt end.
The pound’s fluctuations underscore how currency traders are becoming arbiters of the Brexit debate.
FinTech, and in particular blockchain technology, is set to significantly change how banks operate, according to John Tsang, financial secretary for the Government of Hong Kong SAR.
There seems to be general acceptance that last week’s flash crash in sterling merely highlighted what we have known for so long – there is a growing structural problem in FX markets.
Yuan bears have little to celebrate, according to the currency’s top forecaster.
The European Parliament said it plans to fast-track implementation of the uncleared margin rules under new European regulation, after implementation was delayed earlier this year.
The European Securities and Markets Authority is to hold an open hearing on its plans to introduce an industry benchmarks regulation.
Overnight, the GBP EUR fell back on the news that Tesco refused to pay the 10% price increase on products such as Marmite, something that has come about by the pound weakness.
GreenKey Technologies will launch a mobile device of its voice workspace platform for IOS and Android users.
Singapore’s dollar hit a seven-month low, a day before a central bank monetary policy decision, while most emerging Asian currencies slid on disappointing Chinese trade data and expectations of a US interest rate hike in December.
The Canadian dollar notched a small loss against a broadly higher US dollar, as the release of minutes from the last US Federal Reserve meeting left a December interest rate hike in play and crude oil prices fell.