The Federal Reserve has informed the public that work will begin this month on a new study that will measure fraud and associated costs in the U.S. payments system and identify the causes and contributing factors to fraud. The study is part of the Federal Reserve's ongoing effort to improve and support payment security throughout…
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The Federal Reserve Board yesterday announced that it will fine BNP Paribas S.A. and its U.S. subsidiaries $246 million for the firm's unsafe and unsound practices in the Forex markets. This follows the massive fine at the New York state level in May when the New York Department of Financial Services (NYDFS) fined the bank…
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The Federal Reserve is expected to raise interest rates for the second time in three months on Wednesday, encouraged by strong monthly job gains and confidence that inflation is finally rising to its target, Reuters reported earlier today. A rate hike at the conclusion of the Fed's latest two-day policy meeting is already baked into…
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The Federal Reserve Board on Wednesday announced it is permanently prohibiting Jason Katz, a former foreign exchange (FX) trader at Barclays PLC and later at BNP Paribas SA, from participating in the banking industry, because of his actions to manipulate FX prices. Through the use of electronic chat rooms, Katz coordinated his trading with competitors,…
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The Japanese yen is getting crushed - dropped with 0.7% at 118.0250 per dollar as of 7:38 a.m ET. This happens in the aftermath of the Federal Reserve's decision to raise rates for the second time this decade. As most of the market watchers expected, the Federal Reserve decided to raise its benchmark interest rate by 25…
Read moreThe Federal Reserve Board announced yesterday it is prohibiting a former FX trader from participating in the banking industry for his manipulation of FX pricing benchmarks. Matthew Gardiner, a former FX trader at Barclays PLC and at UBS AG, used electronic chat rooms to coordinate FX trading, facilitate manipulation of FX pricing benchmarks, disclose confidential customer information…
Read moreInternational provider of online trading services Monex Group, Inc. (TYO:8698) has just published the findings of the Nineteenth Monex Global Retail Survey, conducted from November 24 to December 7, 2015. Fed expected to hike rates this year Amid the key findings of the survey, which monitors investor mood and expectations in Japan, China (Hong Kong)…
Read moreWhile higher volatility can be a boon for currency traders and providers who serve them, who can get potentially better profit chances during more pronounced price movements, corporations may find it more difficult to hedge against forex rate swings.
Read moreMexican Peso, Russian Ruble, and Turkish Lira all experiencing renewed weakness as emerging market currencies deteriorate in risk-off trading...
Read more"The reality is that I see the Fed as being unlikely to embark upon a round of consecutive rate rises considering the current status of the economy" - Steven Knight, Blackwell Global
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