The US derivatives regulator gave swaps dealers a six-month grace period to comply with a variation margin rule that becomes effective March 1, saying most companies are unprepared for the change.
FXCM has agreed a settlement for $650,000 with the US Commodity Futures Trading Commission (CFTC), relating to allegations that the firm was under-capitalised following the volatility caused by the Swiss National Bank’s (SNB) decision to abandon its peg to the euro.
The dollar stumbled against major currencies overnight after US President Donald Trump’s national security advisor Michael Flynn quit under scrutiny over whether he discussed the possibility of lifting US sanctions on Russia before Trump took office.
The dollar is set to strengthen toward 125 yen and approach parity with the euro in what is likely to be a year of “political boredom” compared with the shocks of 2016, according to Franklin Templeton Investments.
The pound took a turn for the worse after UK inflation was lower than expected in January, with consumer prices rising just 1.8 per cent on an annual basis compared with expectations of a 1.9 per cent gain.
Japanese Prime Minister Shinzo Abe said he agreed with US President Donald Trump during a weekend bilateral summit that currency issues should be left for finance leaders of each country to discuss.
The White House is exploring a new tactic to discourage China from undervaluing its currency to boost exports, part of an evolving Trump administration strategy to challenge the practices of the US’s largest trading partner while stepping back from direct confrontation.
The bank is suspected of using foreign-exchange swaps to lower the base for calculating income tax in Russia, a person with knowledge of the matter said.
The Mexican peso’s recent tumult is upending the way many global investors hedge their bets on emerging markets and raising the risks associated with investing in the developing world.
48% of executives at banks, financial services firms, traders and government agencies said blockchain technology will be adopted for post-trade use in the next three to five years.
Trump has accused trade surplus nations of unfair FX moves.
Letter signed by 10 members of House Financial Services Committee.
China’s foreign exchange regulator began surveying firms in Shanghai in early February about the impact on cross-border trade of possible protectionist measures by the United States, two sources said.
Citi confirms that James Bindler, global head of G10 FX at the bank, is retiring.
BGC Partners has released fourth quarter and full year results for 2016, which show that revenues were down in both its fully electronic FX and financial services businesses compared to the previous year.
The Canadian dollar strengthened to a one-week high against its US counterpart as US President Donald Trump downplayed potential changes to trade ties between the United States and Canada.
Asian currencies rose as the resignation of US President Donald Trump’s national security adviser dented the dollar, with the South Korean won getting an additional lift as local exporters sold the greenback.
The US dollar fell against the Taiwan dollar, shedding NT$0.021 to close at NT$31.030 as foreign funds continued to flow into the country, dealers said.