Day: 14 December 2016

Fed Raises Rates, USD Surges in Response

The US Federal Reserve increased interest rates by a quarter point today, also indicating that it now expects to increase rates three more times in 2017.

“In view of realised and expected labour market conditions and inflation, the committee decided to raise the target range for the federal funds rate to half to three-quarters per cent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labour market conditions and a return to 2% inflation,” says the Federal Open Market Committee in a statement issued today.

Currencycloud Turns to Duco

Currencycloud, an international payments engine, has announced that it will use technology from Duco, a fintech that provides data control services for a variety of operational functions including cash, trade-to-cash, and bank cash flow reconciliations.

“We are excited to be working with an innovative firm focused on using technology to drive change across the industry – which is also one of Duco’s core missions,” says Christian Nentwich, CEO of Duco. “Currencycloud’s payment engine streamlines processes, reduces manual intervention and cuts inefficiencies in currency transfers, which is exactly what we are achieving for firms in the data control space.