Dollar
Cartel trial kicks off with ‘billions of dollars’ claim
US prosecutors say the three former traders crossed the line and got an unfair advantage
BBVA forecasts sterling relief in November
Fluctuations and volatility in the currency are to be expected, says Spanish bank
Current account balances are key in EM, says Westpac
As risk sentiment sours due to the ongoing trade wars between the US and China, current account deficits will weigh on some EM units
Platform volumes up in August amid EM woes
Trading was higher than in the same period of 2017, with the euro and some emerging market currencies hitting yearly lows
Structural factors to weaken dollar – Scotiabank
Canadian bank says the outlook for the US currency is generally negative
Trade wars to stay for decades, say panellists
The conflict is a struggle for dominance between the US and China, say economists at the 14th annual FX Week Asia event
European corporate FX losses triple
Currency losses at their highest since the first quarter of 2017, reports FiREapps
SGX hits high in USD/CNH futures
USD/CNH futures trading breaks multiple records on August 16 as renminbi drops to new lows
Cable may be establishing new range – IGM
A failure to agree on Brexit terms could broadly weaken the pound, strategist says
Sterling to recover by year’s end – ABN Amro
Despite Brexit-related pressures, sterling’s prospects remain positive, says the bank
Renminbi payments hold steady in June – Swift
China’s currency keeps its fifth most-used currency spot for global payments, according to Swift
SGX reports record FX volumes
The exchange prints new records in USD/CNH volumes, surpassing the $3 billion threshold on June 27
Katz’s sentencing adjourned until January
Jason Katz is the first trader to admit to wrongdoing
Mark Johnson’s attorneys point to Isda agreement in appeal
“How are FX traders supposed [to] know what trading constitutes wire fraud when the government cannot even answer that question?” attorneys ask
European corporates hit by FX in final quarter of 2017
Currency losses at their highest for corporates in Europe since Q3 2015
Dollar to run out of momentum, CBA says
Commonwealth Bank of Australia thinks the euro has larger upside potential than the US dollar
PBoC to watch renminbi’s depreciation against dollar – City Index
China is concerned the dollar’s recent bout of strength could put the redback in the US administration’s crosshairs
EM structural strength in focus as dollar rallies, CIBC
But dollar gains could soon lose steam
Dollar’s rise and flagging risk sentiment dampen EM - SEB
Reduced risk appetite is currently affecting the EM currencies, but strong economic growth could help them to recover in the second half of the year
DoJ indicts another FX trader on price-rigging charge
US says Akshay Aiyer conspired with other New York-based traders at rival banks to fix prices in Ceemea currencies
FX Cartel loses bid to dismiss criminal case
Judge says SFO investigation was a sign the currency traders could be prosecuted somewhere
OTC derivatives values fall to 10-year low – BIS
The most recent slump continues the retreat from gains witnessed in the first half of 2016
Johnson sentenced to two years in prison
Johnson was taken to prison immediately after the hearing, but lawyers are preparing for appeal argument
Former Wells Fargo FX trading head sues for wrongful termination
Simon Fowles claims he was fired days before he intended to alert regulators of a payment-incentive plan that fostered greed