The United States will seek the extradition from Britain of a former HSBC Holdings executive accused of participating in a fraudulent scheme involving a $3.5 billion currency transaction.
Bill Goodbody is set to leave his position as senior vice president, head of FX, at Bats Hotspot.
Speculators raised favorable bets on the US dollar for a fourth straight week, with net longs hitting their highest in roughly nine months, Reuters calculations and data from the Commodity Futures Trading Commission showed.
The euro slipped toward a seven-month low amid speculation the European Central Bank will maintain its easy monetary policy as the Federal Reserve prepares to raise interest rates this year.
China’s yuan stabilised after slipping to fresh six-year lows, as large state-owned banks sold dollars in an apparent effort to slow a too-rapid decline in the currency.
- Chinese Yuan Weakens to Six-Year Low Against USD – Xinhua
- Offshore Yuan Near Record Low as PBOC Seen Tolerating Declines – Bloomberg
Banks in the UK will start relocating operations out of the country by year-end, months before formal talks to leave the European Union begin, as London looks set to lose access to the EU single market, the head of the British Bankers Association said in a newspaper commentary.
South Korea announced it will lay the systemic groundwork for the spread of digital currency as part of efforts to promote financial technology, also called fintech.
The Nigeria-India upfront oil payment deal will help the Federal Government to tackle the foreign exchange crisis in the country.
CFTC chairman sees ‘very important distinction’ in cleared versus uncleared trades.
Regulator intends to start accepting MiFID II applications in early 2017.
MiFID II requires pre- and post-trade data to be published as soon as possible after execution.
Just as memories of the financial crisis are fading and tough new banking regulations are beginning to bite, some current and former regulators wonder whether one of the rules is too much of a burden for markets and taxpayers.
The French National Assembly has voted proposed amendments to the local financial transaction tax on 19 October 2016 while discussing the Projet de loi de finances (French government draft budget law) for 2017.
Verena Ross, executive director at the European Securities and Markets Authority, has said the impacts of MiFID II on businesses are “difficult to predict”.
It was less than a year ago that high frequency trading executives began rubbing shoulders with the usual crowd of sellside brokers, buyside dealers and exchanges at European equity trading conferences. Already those efforts are paying off.
Sterling gained against the US Dollar and the Euro last week after the UK reported better than expected employment and CPI inflation numbers, the ECB left interest rates unchanged and the United States reported mixed economic data.
Most Asian emerging-market currencies weakened on speculation China will allow its currency to keep declining after it dropped last week beyond the level it was forecast to reach by year-end.
Rising odds of a 2016 interest rate hike from the Federal Reserve prompted a general weakening in risk appetite, leaving New Zealand Dollar exchange rates on a softer footing.