As a growing chorus of analysts from the likes of Morgan Stanleyy and Nomura predict dark days for the dollar, the market is telling a different story.
- Dollar’s Shine Dulling, But Other Side Not Much Brighter: Reuters Poll – Reuters
- Dollar Is ‘Best of a Bad Bunch’ in Surprise Turn for Wall Street – Bloomberg
What is it that infected so many of the banks’ FX businesses at the end of 2013 that led to so many bad decisions being made? Was it a lack of focus, courage, or even sheer panic that underpinned the decision to roll over on legal actions brought by customers, but at the same time stand firm and fight unfair dismissal cases brought about by their own staff?
The average daily volume of FX traded on swap execution facilities (SEFs) in January was $61.2 billion, up month-on-month from $49.8 billion and up 5.5% from $58 billion in January 2018, according to data from FIA SEF Tracker.
The total average daily volume of FX trading across
Almost two years on from the launch of the FX Global Code of Conduct, the effort to promote a fair and transparent foreign exchange market has enlisted its first supranational banking institution. The European Investment Bank – the lending arm of the European Union – has signed a statement of commitment to the Code’s 55 principles.
The deadline for Phase 4 firms to come into compliance with uncleared margin requirements is September 2019, and Phase 5 is set for September 2020. But the smaller firms that fall under the remaining phases could face additional challenges.
Both sides in the US-China trade negotiations are making a “big commitment” to reach an agreement by the March 1 deadline, US Treasury Secretary Steven Mnuchin said.
Diplomats in Brussels say there is one telling measure of the low reached in the Brexit saga: the political blame game has started over responsibility for a chaotic no-deal exit.
Exchange shareholders say customer holdings are trapped in an electronic vault after founder’s reported death, but researchers aren’t so sure.
Bitcoin fever could return to Wall Street. The JP Morgan analyst behind a report that found major firms are losing interest in cryptocurrencies isn’t ruling out renewed interest.
To be sure, Binance doesn’t disclose its financials, but the profits can actually be deduced fairly easily with some back-of-the-envelope math.
A Goldman Sachs veteran who helped head up emerging markets FX trading in New York is moving on from the firm just two years after making partner.
Goldman Sachs is the only big US bank planning major changes to its bond-trading division this year, as fixed income bosses in other corners of Wall Street bet that a tough fourth quarter was an anomaly and that the post-crisis decline in their businesses is coming to an end.
Are the Wheels Coming off BNP Paribas’ Grand Plan? – Euromoney
It is no surprise that FICC was a tough year at BNPP – it was for almost everyone – but the bank did worse than those that have reported so far.
Avelacom, a provider of global connectivity and IT infrastructure for financial services, has opened its third point of presence in Tokyo.
The Japan Securities Clearing Corporation granted Barclays clearing authorisation in November as it looks to expand its clearing business and presence in Asia.
The British pound fell below $1.29 for the first time in more than two weeks on Thursday as broad dollar strength prompted traders to move to the sidelines before a central bank meeting and growing Brexit uncertainty.
The euro weakened on Thursday after data showed Germany’s economy slowed in December, underscoring fears about a broader slump in Europe.
As new government forms, investors are more willing to sell dollars and buy Lebanon’s currency.