U.S. Treasury Secretary Asks IMF To Review FX Rate Polices
U.S. Treasury Secretary Steven Mnuchin has asked the International Monetary Fund (IMF) to carry out a thorough and frank appraisal of the exchange rate policies of its member countries. According to Treasury spokesman, Mnuchin discussed the priorities of the new
Read MoreCitibank Agrees To Settle South African Price Rigging Case
Citibank has announced that it has entered into an agreement with South Africa’s regulatory body, the Competition Commission to settle charges of foreign exchange rigging. Its consumer banking arm has agreed to pay R69.5 million (approximately $5.3 million) for its
Read MoreAussie UP on low unemployment rate, high commodity prices
A 23% decline in the price of coking coal to about $172 per ton weakened the Aussie in early January. The weakness was also aided by a lower-than- anticipated retail sales growth of 0.2% m-o-m in November. On the contrary,
Read MoreS.African Investigators Find Banks Guilty of Currency Rigging
Antitrust investigators in South Africa have recommended that several of the country’s major banks be fined for price-fixing of the rand. The Competition Commission started its investigation into allegations of currency rigging by major banks in the country two years
Read MorePound signals downtrend on soft inflation data
The Pound turned bullish against the Aussie last week when Kristin Forbes, an external member of the UK monetary policy committee, stated that Bank of England could soon consider raising interest rates. She argued that economic downturn usually happens when
Read MoreTurkish FX Trading Community Protests New Restrictive Laws
A raft of changes introduced by the foreign exchange regulator in Turkey has alarmed the country’s trading and investor community, giving rise to a petition campaign to roll back the new rules. Last week, the Capital Markets Board of Turkey
Read MoreChina’s Foreign Exchange Reserves Drop Below $3 Trillion
China’s foreign exchange reserves dipped below the $3 trillion level in January, the first time in six years. Although the level has no specific implications, it could influence the market sentiment on the value of yuan. Reserves went down to
Read MoreKiwi UP on fall in trade deficit, 1.1% Q3 GDP growth
The NZD/JPY pair was range bound between 72.80 and 76.80 for the past one year. The unexpected victory of Donald Trump in the US election paved way for the strengthening of the US dollar against the Japanese Yen, a safe
Read MoreDeutsche Bank Agrees Settle Russian Mirror Trade Probe
German banking major Deutsche Bank AG has agreed to pay a total of $630 million as penalty in order to end investigations by U.K. and U.S. regulators into a suspect equity trading scheme that resulted in shifting of $10 billion
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