The Japanese yen jumped half a percent against the dollar and is set to score significant gains against the euro as prospects of a trade war gripped markets after US President Donald Trump announced hefty new tariffs on steel and aluminium imports.
US President Donald Trump’s decision to slap tariffs on steel and aluminum imports has traders assessing which currencies have the most to lose.
Sterling steadied close to a seven-week low against the dollar, as traders eyed a speech from Prime Minister Theresa May on her plans for a trade deal with the European Union.
The risk of a member’s exit from the bloc could be cut by an Article 50 provision.
The governor of the Bank of England, Mark Carney, has pledged that it is time to regulate elements of cryptocurrencies and their ecosystem, as policy makers at the central bank weigh how much of a risk they pose to financial stability.
- Cryptocurrency Exchanges to Face Regulatory Clampdown, Says Bank of England’s Mark Carney – The Independent
RBC Capital Markets has published a notice to clients outlining its practices in fixed-income, currencies and commodities trading (Ficc), which states all electronic FX trades are subject to last look checks with holding periods ranging between 0 and 100 milliseconds.
Comments made by the US regulator at an FX industry event in Miami in February have raised the hackles of some market participants over the thorny issue of ghost or phantom liquidity.
Derivatives provided greater visibility into an opaque markets, but there is no rush to embrace them.
- These Three Companies Could Sprint Ahead of Wall Street When It Comes to Cryptocurrency – Business Insider
- This $1 Trillion Money Manager Just Joined the Crypto Frenzy – Bloomberg
Third-party transaction cost analysis fees will be difficult to include in the spread if they do not count as research costs.
Senate Majority Leader Mitch McConnell has set the stage for a vote on one of the biggest rewrites of financial industry rules since the Dodd-Frank Act was passed nearly eight years ago.
- Senate Readies Rollback of Bank Rules – Wall Street Journal (subscription)
- Barney Frank: Why I Would Vote ‘No’ on Senate Bill to Amend Dodd-Frank – CNBC
The president’s top economic adviser lost a battle to prevent the imposition of steep tariffs pushed by protectionist advisers.
The head of the UK markets regulator has called on market participants to look at creating a “synthetic Libor” to resolve a headache created by a potential global market shift away from the key lending benchmark in coming years.
The Japan Securities Clearing Corporation (JSCC) will launch a new set of Tokyo overnight average rate (Tonar) swaps for clearing this month, to aid the swaps market’s transition away from the yen Libor benchmark.
CME Group has announced it will launch monthly and quarterly Secured Overnight Financing Rate (SOFR) futures on May 7, pending regulatory review.
A London-based start-up hedge fund founded by ex-Barclays FX sales head Marcello Cavalcanti has hired Hutchinson Lilley’s COO to head operations.
Overstock.com shares fell 4.4% after the company’s cryptocurrency-focused subsidiary, tZero, said the Securities and Exchange Commission was investigating its sale of digital tokens.
Market intelligence provider InTouch FX has expanded its coverage to cover North American hours with the hire of Adrian Thong who will lead the service.
US based swap execution facility expands into Asia-Pacific following a record year of trading activity.
The rand retraced some of its gains this week as investors perhaps reflected that, positive as the country’s changes undoubtedly are, its future is far from certain.
Earlier this year, when bitcoin’s price fell by more than 60 percent from its record close, a less-noticed bitcoin figure also plunged: the number of daily transactions.