And Finally…

I have been away from the FX world for a week looking at strange fish, playing golf and trying my hardest to ignore the “real world”. Therefore, while I catch up on a week’s emails and stories, I will point you in the direction of a webcast and transcript of a session I moderated recently […]
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Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) SNB Upholds Ultra-Loose Policy The Swiss franc was up 0.2% to 1.12127 per euro on Thursday following Swiss National Bank (SNB) president, Thomas Jordan’s, announcement to maintain loose monetary policy. In an interview with Bloomberg, Jordan […]
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Research Contradicts US Officials on USD Strength

A research note today from Societe Generale found that, despite claims from senior US officials, the USD has generally weakened against other major currencies over the last two decades. This announcement comes after a press conference on Saturday, where US Treasury Secretary Steve Mnuchin argued that by not intervening to support the yuan, the Chinese […]
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Euronext FX: Same Platform, Bigger Ambitions

Kevin Wolf, CEO of Euronext FX, explains how the rebranding of FastMatch is indicative of the widening client base and service offering of the firm. This content was sponsored by Euronext. Profit & Loss: You recently rebranded FastMatch as Euronext FX, can you talk me through the thinking behind this change? Kevin Wolf: This rebranding […]
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Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) US Economy on “Recession Watch” says Morgan Stanley This Tuesday, chief US equity strategist at Morgan Stanley, Michael Wilson, warned investors of a possible upcoming US recession. In a note to clients, using recent data highlighting […]
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State Street Reports Rise in Investor Confidence

The State Street Investor Confidence Index (ICI) showed an increase in confidence of 6.6 points in May. State Street’s Global ICI increased to 79.5 in May, up from 72.9 the previous month. The results found that confidence among North American and European investors improved, with the North American ICI rising from 71.3 to 76.7, and […]
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Report Highlights Major Slowdowns in US Growth

In a recent report from IHS Markit, the Purchasing Managers’ Index (PMI) has revealed faltering US business activity and a slowdown in US private sector output growth in May. IHS Markit’s Flash US Composite PMI Output Index, which accounts for services and manufacturing data from IHS Markit’s PMI surveys, came in at 50.9 in May, […]
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Single-Dealer Platforms and Portals – Past & Future

By John Ashworth, CEO of Caplin systems Background In the early days of e-commerce, just 20 years ago, there was an important distinction between single-dealer platforms and single-dealer portals. A single-dealer platform was understood to be a broad layer of software that allowed a bank to offer integrated information and trading across most or all […]
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Second Barclays Trader Convicted of Euribor Manipulation

Just days after former colleagues Carlo Palombo was convicted of similar charges, a UK jury has found a second former Barclays interest rate trader guilty of Euribor manipulation. Former managing director at Barclays, Colin Bermingham, has been convicted of manipulating the benchmark rate at the height of the financial crisis following an investigation and prosecution brought by the UK’s Serious Fraud Office (SFO). A third trader, manager of the liquidity management portfolio at Barclays, Sisse Bohart, was acquitted last week.
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New York Fed Details Attitudes to Crypto

The Federal Reserve Bank of New York’s Liberty Street Economics Unit has published the results of a survey conducted in the May 2018 Survey of Consumer Expectations that sought to understand what motivates people to participate in cryptocurrency markets. The survey covers a sample of 1,146 people from ages 18 to 96, with broad representation by race and gender and finds 85 percent of respondents had heard of cryptocurrencies – something it says may be a testament to Bitcoin’s name recognition. Around five percent of respondents reported that they currently or previously owned cryptocurrency and an additional 15 percent reported that they were considering buying cryptocurrency.
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