Currency
Trade war may delay yuan as reserve currency
Central banks are cautious when building renminbi reserves due to legal and liquidity issues
ECB’s Mersch attacks Facebook’s ‘cartel-like’ libra structure
Senior ECB official accuses currency project of “treacherous promises”
Argentina reimposes currency controls as peso plummets
Authorities aim to stem depreciation of peso, which has fallen 23.9% against dollar since August 11
Argentina opens IMF talks as crisis deepens
Government extends debt maturity and pledges reserves will not be used to repay international investors
Monex: Fed can’t curb dollar strength
Only improvement in global growth will end the strong dollar dynamic
MUFG hires Paster in FX and derivatives risk management push
Paster’s newly created role aims to strengthen MUFG’s markets arm in Americas
Danske overhauls FX technology to rebuff Tier 1 competition in Nordics
Bank inks partnerships on pricing engine, connectivity and algos; tests mobile solution for corporates
Brazilian central bank to sell dollars outright for first time since 2009
It remains committed to floating currency regime
MUFG eyes financial institutions, pension funds in expansion
Japanese bank wants to build a broader client base beyond corporates
Argentine central bank tries to halt peso’s slide
Peso falls after primary election results come as blow for President Macri
PBoC to issue central bank bills to support yuan
Move could reduce liquidity of offshore yuan and deter “hot money” flows, analysts say
US Treasury designates China a currency manipulator
Renminbi crosses barrier of seven yuan per US dollar amid growing trade tensions on August 5
City Index: yuan to hit seven within a month
China’s yuan has not seen such levels for more than a decade, but trade war with US induces flirtation
UBS developing customisable client pricing engine
Swiss bank wants to give individual clients fully customised price without affecting system performance
Potamus looks to new asset classes, including currencies
HFT firm sees US equities platform grow in past year and views outsourced trading as another area for expansion
US regulators applying outdated laws to crypto, hearing told
Congress also urged to open up Fed payment system if it wants to reach the unbanked
CIBC: sterling on defence as Johnson becomes UK PM
Expect interest to sell sterling in short term as market remains on guard for possibility of no-deal Brexit
FX trading in London hits record high
UK capital cements position as largest FX hub; New York sees significant fall in daily turnover
Hyperinflation looms as Zimbabwe struggles to stabilise currency
Official inflation almost doubles as economic threats remain
St Louis Fed warns of rise of multicurrency systems
Crypto assets may hamper monetary policy transmission and increase exchange rate volatility
Identity crisis for Facebook’s Libra under lawmakers’ grilling
Washington wrestles with ‘regulating the heck’ out of Libra without stifling innovation
Kurk joins Northern Trust as COO
Hire aims to capitalise on acquired technology and product capabilities
Debelle swings at ‘buyer beware’ disclosures in FX
‘They don’t give you free licence to do whatever you want,’ says new GFXC chair
West Africa announces ‘eco’ currency plans
Single currency seems unlikely to be introduced by next year, despite updated launch plans