Incoming Philippine c.bank governor says may consider bigger rate hikes
The Philippine central bank may consider bigger interest rate hikes to support the peso, though will not be obliged to match policy tightening by the U.S. Federal Reserve, the Southeast Asian country’s incoming governor said on Wednesday.
Russian rouble firms towards 62 vs euro, stocks down
The Russian rouble firmed in early trade on Thursday, heading towards 62 against the euro on the Moscow Exchange, while stock indexes inched lower, lacking new momentum and trading ideas.
Russia to temporarily ban foreigners from selling assets
Russia will temporarily stop foreign investors from selling Russian assets to ensure they take a considered decision, not one driven by political pressure, the prime minister said on Tuesday, as Moscow responds to intensifying Western sanctions.
Barclays, RBS, HSBC, Credit Suisse fined 344 mln euros for forex cartel
European Union antitrust regulators fined Barclays (BARC.L), Credit Suisse (CSGN.S), HSBC (HSBA.L) and RBS (NWG.L) a total of 344 million euros ($390 million) on Thursday for rigging the foreign exchange spot trading market.
Adopting transparency in the FX industry
The use of FX benchmarks has steadily and significantly increased as a result of market demand for risk transparency and more precisely defined measurement. In the forex world, they have become a mainstay trading mechanism. Even though the alternatives (WM/Refinitiv London 4 pm Fix and the Bloomberg FX Fixings (BFIX) family of benchmarks) pose significant […]
Gloomy outlook dulls PayPal’s quarterly profit beat
Shares of PayPal Holdings Inc(PYPL.O) fell 8% on the payment company’s downbeat current-quarter profit outlook that outweighed a better-than-expected profit in the second quarter from a pandemic-driven shift to digital spending.
Big banks seek to curb “speculative” planned UK forex class action
A proposed multi-billion pound claim against powerful banks over alleged foreign exchange (forex) rigging is too weak and speculative to be allowed to proceed as a U.S.-style class action, the banks’ lawyer told a London court on Wednesday.
