The dollar slid nearly 3% in the first three months of the year as investors unwound bets that the Trump administration’s economic proposals would boost the US economy.
The dollar edged up in European trading as investors shrugged off a lack of motives to buy it last week and awaited more clarity on the strength of the US economy and pace of future interest rate hikes.
- Dollar Drops to Low After Dudley Says No Rush to Increase Rates – Bloomberg
- Speculators Cut Net US Dollar Longs in Latest Week: CFTC, Reuters Data – Reuters
The pound fell against both the euro and the dollar after closely-watch figures showed UK manufacturing growth shrank unexpectedly.
Central banks are dumping euros amid concerns over political instability, weak growth and the European Central Bank’s negative interest rate policy — and favour sterling as a long-term, stable alternative.
The market is overestimating political risk in Europe and underestimating the chances of a US recession, according to Saxo Bank.
The US Commodity Futures Trading Commission (CFTC) has issued two separate Orders filing and settling charges against two former Citigroup traders for spoofing US Treasury futures markets.
Credit Suisse Group and its home country of Switzerland were surprised by a tax evasion and money laundering investigation that spans five countries from Australia to the UK and potentially involves thousands of account holders.
Three FX platforms have reported strong FX volume data for March, including two new records.
The rand is showing little sign of recovering as the dust begins to settle after President Zuma’s midnight cabinet clearout last week, falling further in early trading.
Japanese industry is growing steadily more confident as a weak yen and a stronger global economy offer new hope of escaping deflation.
Short the dollar on any bounce. Bet on a recovery of the euro after the French elections. Position for the yuan to strengthen.
Iceland’s finance minister has admitted it is untenable for the country to maintain its own freely floating currency, just days after it lifted capital controls imposed in the wake of its near financial collapse in 2008.
Analysts are united in saying that the currency controls are holding the economy back.
Egypt’s improved competitiveness after the November 3 floating of the currency is unlikely to be negatively affected by an expected appreciation of the pound’s real effective exchange rate in the short term, the central bank said.
Venezuelan government bonds prices sank as tensions rose following the annulment of the country’s legislature by the country’s high court this week while the Mexican peso pulled back after a recent rally.
CTA strategies struggled in 2016 but key trends are still shaping the managed futures industry.
With compliance teams at financial institutions looking at new initiatives to tighten up chat culture, Bloomberg’s hegemony could come under threat by new entrants.
The increase in clearing following the introduction of rules requiring the exchange of margin for uncleared derivatives six months ago has been accompanied by a rise in trading activity.
Chris Salmon, the BoE’s head of markets, is, it transpires, the uncle of jailed Libor manipulator Tom Hayes.
US Commodity Futures Trading Commission (CFTC) acting chairman Christopher Giancarlo has announced the appointment of James McDonald to be the director of the agency’s Enforcement Division.
The Monetary Authority of Singapore (MAS) has issued guidelines for the conduct of businesses offering execution advice, including in foreign exchange markets.
The UK is trying to kill a planned European Union rule for foreign banks that will become crucial for its own lenders after Brexit.
The European Securities and Markets Authority has recognised six more non-European central counterparties under its main clearing regulation.
Australian regulator’s enforceable undertaking agreements hint at highly divergent rules enforcement globally.
UK-based financial services could be left out of the main Brexit negotiations as British government officials fear it will be too difficult to reach a deal in the two-year time frame for talks.
Euronext, the pan-European exchanges operator, has moved swiftly from missing out on the €510m purchase of LCH’s French unit by agreeing to move its derivatives and commodities clearing operations to rival Intercontinental Exchange.
Sources familiar with the matter say that Charl Vleeschauwer is joining Citi in Sydney as part of the bank’s shift of its Asian spot desk to that centre.
SIX Securities Service’s multi-currency trading platform has been recognised by Swiss authorities as a multilateral trading facility (MTF).
The first blockchain-powered bond issues are expected to emerge in a matter of weeks, as technology start-up BlockEx puts the finishing touches to a digital asset issuance platform that it believes could ultimately squeeze out bank syndicate functions.
The Australian dollar fell upon the release of the data and has remained the worst-performing major currency.
The Canadian dollar strengthened against the greenback, padding its gains for the quarter, as data showing robust domestic growth in January raised prospects of an earlier-than-expected Bank of Canada interest rate hike.
The Czech Central Bank’s commitment to maintain the 3½ year-old weak crown regime ended on Friday.