Pound turns bullish on better than expected Q2 GDP data
In the past two weeks, the Pound has marginally recovered against most of the major currencies. Even though it may take months, if not years, for the Pound to get back to the pre-Brexit levels, still, the market believes that
Read MoreRBI Imposes Penalty On Bank of Baroda For Forex Scam
India’s central bank, the Reserve Bank of India (RBI) has levied a penalty of Rs.5 crore on public sector bank, the Bank of Baroda with regard to the Rs. 6,000-crore foreign exchange scam that was unearthed last year. The penalty
Read MoreHSBC Executives Charged By U.S Authorities In Forex Rigging Case
In a first, a senior executive from global banking major HSBC Ltd has been charged by U.S. authorities for allegedly front-running a forex scheme to the tune of $3.5 billion financial transactions which were carried out in 2011. The authorities
Read MorePolish Zloty to strengthen on ECB’s stimulus measures
Even though there are several reasons to remain bearish on the US dollar, still, the investors found sanctuary in it as uncertainty increased in the global markets due to the Brexit referendum results. The reason is that the US dollar
Read MoreEuro to decline as ECB considers further easing measures
The Euro dollar made use of the chance to rally against the Pound in the post Brexit scenario. From a low of 0.7600, the Euro climbed 1000 pips to hit 0.8625 on June 6th . However, as described below, the
Read MoreMasterCard Faces Claim of £19 billion For Overcharging Users
MasterCard is facing a penalty charge of £19 billion in damages in a class action lawsuit in the United Kingdom. The collective action lawsuit has been filed by U.S law firm Quinn Emanuel on behalf of the former Chief Financial
Read MoreEU Accord Essential For London To Retain Position As Clearing Hub
The recent Brexit vote has resulted in widespread uncertainty, with politicians and government officials still struggling to develop a plan of action for managing issues around market access, labour movement, and trade dealings between the European Union (EU) and Britain.
Read MoreLSE Shareholders To Vote on Merger With Deutsche Boerse
Shareholders of the London Stock Exchange are scheduled to vote this week on the proposal to merge with German exchange Deutsche Boerse. The $27 billion deal which is said to be a merger of equals is aimed at improving cost
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