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Barclays to Use Bloomberg FX Rates for ETN Benchmarking

Barclays Bank says that the benchmark foreign exchange spot rates for each of its three iPath Currency Exchange Traded Notes (ETNs) are now based on Bloomberg quotes posted at 16.00 GMT.

The bank previously based its FX rates for the ETNs on the Federal Reserve Bank of New York’s report that appears on Reuters every morning after 10.00 GMT. The New York Fed is discontinuing the publication of FX rates on 31 December due to the proliferation of alternative market-based sources for these rates.

The three ETNs are iPath EUR/USD (ERO), iPath GBP/USD (GBB) and iPath JPY/USD (JYN).

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