The US dollar skidded after the Federal Reserve raised rates, but left unchanged its expectations for further increases this year.
- Dollar Tumbles After Fed Decision – Wall Street Journal (subscription)
- Dollar Crunched by Cautious Fed, Bonds and Commodities Cheer – Reuters
Dollar falls as Fed signals just two further increases likely in 2017.
The euro traded just off the highest level in more than a month after an exit poll showed Dutch Prime Minister Mark Rutte’s Liberals easily beat the anti-Islam Freedom Party of Geert Wilders in Wednesday’s election, allaying concerns about the spread of populism in the currency bloc.
Sterling retreated against the dollar and euro, with signs the economy is finally slowing after last year’s Brexit vote expected to weigh on the Bank of England’s message on interest rates later in the day.
The dramatic moves without any accompanying news headlines have left commentators attributing the swings in the currency to events that happened much earlier in the day.
Mexico’s peso, which has surged this year on wagers the selloff that followed Donald Trump’s election victory was overdone, is projected to weaken 5.4 percent by the end of June.
China’s central bank raised short-term interest rates in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised US rates overnight.
The long cycle of falling interest rates in Asia could be over after the US Federal Reserve’s third rate rise in 15 months was followed quickly by monetary tightening in the world’s second-biggest economy, China.
Four Gulf central banks raised interest rates within hours of the US Federal Reserve’s rate hike, pressured by the need to protect their currencies even though an economic slowdown in the region calls for loose monetary policy.
The head of a British parliamentary committee has asked a regulator to look into media reports, including one by Reuters, about movements in financial markets ahead of economic data releases that raised the possibility of leaks.
The chief operating officer of Barclays investment bank told a London court he never instructed swaps traders to speak to Libor submitters and didn’t know about any contact between them.
The market should read the Global Code properly and understand that market making is not a charity.
No change on interest rates or currency policy from the Swiss National Bank, but it has delivered a rare rise to its inflation forecast for this year.
The Brazilian central bank will sell as much as $500 million worth of currency swaps, resuming foreign exchange intervention following a three-week pause.
Following the news that he had been nominated by the Trump administration to be the new chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, has laid out a new agenda for the Commission.
- Trump’s Pick to Lead US CFTC Unveils Major New Policy Agenda – Reuters
- Giancarlo Orders Review of CFTC Rules – Risk (subscription)
James McDonald is set to be picked as the next enforcement chief at the top derivatives regulator.
Protecting Charlotte Hogg looks like a lapse in judgment.
House Financial Services chairman tells Hispanic Chamber that Choice Act will throw Dodd-Frank ‘on the ash heap of history’.
The heads of the CME and Nasdaq said they were not overly concerned about the possibility of regulatory divergence across regions.
The mysterious fate of the apocryphal 2013 clearing proposal, and what comes next.
Broker dealer KCG Holdings has confirmed it has received an “unsolicited” offer from rival Virtu Financial to take over the company.
As Frankfurt, Paris and Dublin vie for financial jobs that may move from London after Brexit, two of Japan’s biggest banks have been quietly building their presence elsewhere: Amsterdam.
Asset managers have chosen to increasingly invest in their derivatives capabilities amidst regulatory shifts, according to a new report by Sapient Global Markets.
Two well-known finance professors called into question the legitimacy of derivatives prices that incorporate a credit valuation adjustment (CVA) – a widely used add-on that reflects counterparty risk.
Emerging markets currencies gained broadly against a softer greenback in early Asia trading following the Federal Reserve’s decision to raise interest rates.
Latin American currencies and stocks gained after the US Federal Reserve hiked interest rates for the second time in three months, pointing to a benign economic outlook and a steady path of rate rises.
The Korean won was the biggest gainer, jumping a full one per cent to a four-month high at 1,130 won to the dollar as trading in the region picked up pace.