The bank expects forex liquidity to improve in September after it halted forex purchases.
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One banker said banks had more forex liquidity due to the recent increase in forex deposits.
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INCREASE IN CHINA OCT FOREX RESERVES DUE TO CHANGES IN FOREX RATES AND ASSET PRICES -FX REGULATOR
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RPT-CHINA'S FOREX REGULATOR SAYS MEASURES AIMED AT PROVIDING MORE FOREX HEDGING CHANNELS FOR OVERSEAS BOND INVESTORS
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Nabiullina noted that forex risks are lower for an exporting company than for one with no forex revenue.
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FOREX Refinitiv will give LSE an entry into the world's $5 trillion-a-day forex market, which London dominates.
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"The PBOC's forex assets data is more representative," said Huang Yi, head of forex trading at Guangfa Bank in Shanghai.
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" ON FOREX REPO "From the point of view of forex refinancing, that instrument is always there, if we have need of it.
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"After the news of the rise in the individual (forex purchases) tax we saw this optimism gradually decreasing," said one forex trader.
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The RBI intervenes anonymously in the forex market through banks, and publishes its forex reserves numbers with a time lag of a week.
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These tools included the benchmark rate, forex refinancing instruments and, in the event of a threat to financial stability, direct forex market interventions, she said.
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While the latest central bank data showed net forex reserves were slightly below $37 billion, Oxford Economics/Haver calculated that actual usable forex reserves, taking into account beefed up gold reserves and commercial banks' forex requirements, stood at just $29 billion as of the end of August.
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While the latest central bank data showed net forex reserves were slightly below $37 billion, Oxford Economics/Haver calculated that actual usable forex reserves taking into account beefed up gold reserves and commercial banks' forex requirements stood at just $29 billion as of the end of August.
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The regulator will deepen forex reform and strengthen a crackdown on forex-related irregularities, the State Administration of Foreign Exchange said in a statement on its website.
|
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The regulator will deepen forex reform and strengthen a crackdown on forex-related irregularities, the State Administration of Foreign Exchange said in a statement on its website.
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The forex maintenance facility within the ROM will provide $2.8 billion of forex liquidity to the market, while 179.183 billion lira will be withdrawn, the bank said.
|
|
The central bank also hiked its forex reserve requirement ratios by 100 basis points, a move it said will withdraw $2100 billion of forex liquidity from the market.
|
|
Bank of China's Shanghai operations were "starting to strictly control forex purchases... and have imposed restrictions on forex purchases worth $1 million or more", the second source said.
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SAFE said regulators are cleaning up online forex trading platforms and strengthening international regulatory cooperation, having shut down more than 600 illegal forex platforms by the end of 2018.
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"Because banks are in a more comfortable position in terms of forex liquidity, we don't expect (the move) to have a negative impact regarding banks' forex liquidity," the banker said.
|
|
The contract size for the EUR/USD forex futures will be 20,000 euros, while the contract size for the USD/JPY forex futures will be $20,000, according to exchange plans.
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FOREX: The U.S. dollar gains, with the dollar index .
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The central bank, on a campaign to cut forex exposure in the country's banking system, was set to require banks to put aside more capital against forex loans as of April 1.
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|
MOSCOW, March 19 (Reuters) - The Russian Finance Ministry plans to start offering forex currency to banks in forex swap deals starting next year, Stanislav Prokofyev, deputy head of the treasury, said on Tuesday.
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|
BRAZEN BETS Forex margin trading is officially banned in China.
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There was little reaction in Chinese forex and money markets.
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Forex held by Turkish local individuals hits record high: tmsnrt.
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The USD notes will be hedged to eliminate forex risk.
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|
NEW YORK (Reuters) - U.S. retail broker Forex Capital Markets FXCM.
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Previously, there had been no restrictions on companies' forex purchases.
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|
Nigeria's forex reserves declined to $36.68 billion as of Feb.
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FOREX: The U.S. dollar dipped against a basket of currencies .
|
|
China-based forex market sources said Beijing had turned up the pressure over the past few months following guidelines released in September to strengthen regulation of the market and make forex trades more expensive.
|
|
Separately, data from the central bank showed that forex holdings tmsnrt.
|
|
FXOpen, a forex trading platform, recently opened a second China office.
|
|
Forex services provider Ozforex was the biggest gainer on the index.
|
|
Positive forex movements added 13 million pounds to the group's profit.
|
|
For January to June, net forex sales stood at $33.2 billion.
|
|
"Oil prices could drop more," said Fawad Razaqzada, analyst at forex.
|
|
China's forex reserves management departments are responsible investors, the SAFE added.
|
|
The person's own bank had shut down buy-side forex trades.
|
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Counterparty and Forex Risk: TBI's rating also reflects low counterparty risk.
|
|
Shetty joined the forex division at Brady House in April 2010.
|
|
Citi is one of the largest players in the forex market.
|
|
Citi is one of the largest players in the forex market.
|
|
It was the 11th consecutive month in which forex reserves fell.
|
|
Resistance is around the $1,350-$1,357 per ounce range, said Forex.
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FOREX: The dollar index added to losses and was down 0.44%.
|
|
"We could see a bit of gains ... There will be forex in the market because corporates will be converting their forex to meet salary obligations and other month-end expenditure," independent financial analyst Maambo Hamaundu said.
|
|
The higher the oil price, the bigger the forex purchases would be.
|
|
BONDS: U.S. Treasury yields were little changed FOREX: The U.S. dollar index .
|
|
That prompted warnings from Japanese officials that excessive forex moves were undesirable.
|
|
CHINA C.BANKS NET FOREX SALE 1.2 BLN YUAN IN JAN-REUTERS CALCULATIONS
|
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Fubon is confident their forex positions will improve going forward, said Chen.
|
|
Excluding one-off, restructuring and forex effects, core profit fell 1 percent.
|
|
CHINA C.BANKS NET FOREX SALE 0.3 BLN YUAN IN FEB-REUTERS CALCULATIONS
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FOREX: The Canadian dollar and Mexican peso gained against the U.S. dollar.
|
|
He said the banking sector's forex and lira liquidity levels were good.
|
|
Year-to-date, the peso has performed strongly, leading emerging forex gains.
|
|
Forex markets were much quieter on Friday, however, as traders took stock.
|
|
TRADE RHETORIC Forex markets elsewhere were largely in a risk-off mood.
|
|
Forex: The dollar index reversed slight gains and was off 6463 percent.
|
|
In a move to support stability, Turkey's central bank increased the reserve requirement ratios for forex deposits and participation funds by 200 basis points for all maturity brackets, possibly withdrawing $4.2 billion of forex liquidity from the market.
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|
ISTANBUL, Feb 8 (Reuters) - Turkey's Akbank said on Friday it has planned some $600 million equivalent refinancing for its maturing syndicated loans, owing to the bank's strong forex liquidity and expectation for flat forex loan growth in 2019.
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|
"They (government) are hoping that this will force generators of forex to sell their forex to make domestic transactions and thus create liquidity in the interbank market," said a bank executive in capital Harare who declined to be named.
|
|
During 2016, the bank widened its investment of forex reserves into foreign shares.
|
|
FOREX: The U.S. dollar index extended losses and was last down 0.4 percent.
|
|
It was replaced with data that captures only the central bank's forex purchases.
|
|
The central bank did not provide any possible timing for the forex purchases.
|
|
Yet Cetinkaya said recent fluctuations in the bank's forex reserves were not abnormal.
|
|
Meanwhile, U.S. prosecutors have charged a handful of former traders over forex-rigging.
|
|
The forex tax rise did not appear to affect the lira on Wednesday.
|
|
Demand was over $7 billion, supported by some Russian banks with surplus forex.
|
|
SNB Chairman Thomas Jordan has said forex interventions would be banned under Vollgeld.
|
|
Gold prices were "hovering below massive resistance between $1,13-$1,215 range", said FOREX.
|
|
The forex market will remain closed on Friday for a Hindu religious holiday.
|
|
Counterparty and Forex Risk: TBI's rating also reflects its low customer concentration risk.
|
|
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|
|
He said an electronic forex trading platform was being put in place immediately.
|
|
Forex trading volumes are usually closely linked to volatility levels across currency markets.
|
|
"Make no mistake about it - this historic agreement is a game changer," FOREX.
|
|
Seen at +0.8 pct y/y * Swiss forex reserves due at 0800 GMT.
|
|
Forex reserves of the central bank, which stood at $4.163 billion on Aug.
|
|
The central bank's gross forex reserves fell to $77.51 billion as of Jan.
|
|
The central bank said on Monday it had raised the reserve requirement ratios for forex deposits and participation funds by 200 basis points for all maturity brackets, saying the move would withdraw $4.2 billion of forex liquidity from the market.
|
|
"The administration seems to be increasingly desperate to keep the lira stable at all costs ahead of the re-run of the crucial vote in Istanbul," said Rabobank emerging markets forex strategist Piotr Matys, commenting on the forex purchases move.
|
|
It has also shut forex depo auctions and adjusted a foreign exchange reserve requirement.
|
|
"I don't think it's a game changer," Jordan Rochester, forex strategist at Nomura, said.
|
|
The manager of a Istanbul-based bank's forex department expressed scepticism over Cetinkaya's comments.
|
|
"We are also in discussions for more forex swaps after the elections," he added.
|
|
" RODRIGO CATRIL, SENIOR FOREX STRATEGIST, NATIONAL AUSTRALIA BANK, SYDNEY "Pretty solid numbers all round.
|
|
The central bank will announce weekly stock exchange, bonds and forex data (1100 GMT).
|
|
The move will exclude forex positions and their hedges that were opened before Aug.
|
|
Bank Indonesia intervened in both forex and bonds markets, deputy governor Mirza Adityaswara said.
|
|
Forex markets cleared daily, however, allowing flexibility that kept the market closer to balance.
|
|
The central bank will announce its weekly data, including on forex reserves (1130 GMT).
|
|
Nigeria's interbank market has traded for six days after the central bank forex reforms.
|
|
That is a fraction of what U.S. forex exchanges' are required to put up.
|
|
Across the year, volumes rose across swap, spot and forward forex products, CLS said.
|
|
Goldcorp lost $178 million during the quarter on forex charges linked to deferred taxes.
|
|
The central bank will announce its weekly data, including for forex reserves (1130 GMT).
|
|
He expected the SNB to ramp up forex interventions before resorting to cutting rates.
|
|
China's forex supply and demand were basically stable in the first quarter, she said.
|
|
FOREX: The dollar index slipped into negative territory and was off about 0.5 percent.
|
|
The bank was on Thursday reviewing its own investigation of the $20123bn forex trade to decide whether to support Mark Johnson, its global head of forex cash trading, who was arrested on Tuesday evening at John F. Kennedy airport in New York.
|
|
HSBC reviewed its $3.5bn purchase of sterling for Cairn Energy in 2011 along with many other forex trades as part of an internal remediation exercise that it carried out at the request of regulators when the wider forex rigging scandal erupted in 2013.
|
|
Under Dodd-Frank rules, enforced by the CFTC, firms offering retail forex trading in the United States must maintain minimum capital of at least $20 million, plus 5 percent of the amount by which liabilities to retail forex customers exceed $10 million.
|
|
He added that the company had other ways to conduct its forex operations as well.
|
|
At the investor forex window, the naira was quoted at 23 per dollar on Thursday.
|
|
But working out prices for forex and fixed income research has proved complex, analysts said.
|
|
Issawi said authorities planned to lower the forex fee from 183 percent, without saying when.
|
|
The forex fee has helped the government forecast a budget in the black for 2019.
|
|
FOREX: The dollar fell, then rebounded, with the dollar index against a basket of currencies .
|
|
China's forex supply and demand were basically stable in the first quarter, according to Wang.
|
|
On an online forum called Forex Peace Army, he found hundreds of others like him.
|
|
London's forex market, the world's biggest, is the crown jewel in Britain's financial services industry.
|
|
Rosneft had promised the exchange a "stable" flow of direct forex operations, Marich told reporters.
|
|
Having hit 216-month lows, it rallied after authorities raised forward forex reserve ratio requirements.
|
|
Despite recent BOJ (Bank of Japan) actions, equity and forex markets have yet to stabilize.
|
|
Eurofinanzza says Cook asks for the company name to change to Euro Forex Investment Ltd.
|
|
EuroFX brochure makes clear that EuroFX is a brand name for Euro Forex Investment Ltd.
|
|
Agbal also said the government was determined to take all steps to reduce forex volatility.
|
|
In yet another tweak, the central bank also stopped regular $500-million overnight forex lending.
|
|
Milan, ASSIOM FOREX starts "XVI PAN European Banking Meeting" (1230 GMT); ends on Oct. 13.
|
|
Aso called the forex market's recent moves "one-sided", and said rapid movements were undesirable.
|
|
Andreas Koenig, head of global forex at Amundi, is among those with short sterling position.
|
|
Its forex reserves tumbled from $22016 billion before the revolt to $16.5 billion in February.
|
|
"I don't think we've found a bottom yet," said Fawad Razaqzada, technical analyst for Forex.
|
|
FOREX: The dollar index rose, last up 0.2 percent, versus flat just before the figures.
|
|
Having hit 14-month lows, it rallied after authorities raised forward forex reserve ratio requirements.
|
|
The regulator added that forex reserves management agencies are responsible investors in international financial markets.
|
|
The forex suit is fronted by Michael O'Higgins, a former head of Britain's Pensions Regulator.
|
|
"I dont want to over-hype todays decision," said Jordan Rochester, forex strategist at Nomura.
|
|
"I don't want to over-hype today's decision," said Jordan Rochester, forex strategist at Nomura.
|
|
Reconciliation is a major issue for banks when trading forex, Commerzbank manager Nikolaus Giesbert said.
|
|
"We would expect a globally coordinated central bank response to a global financial market meltdown upon a hard Brexit, such as liquidity support through forex swap arrangements and possible forex intervention," strategists at Nomura said, when looking at the risk of contagion in financial markets.
|
|
Fubon Life Insurance was also sanguine, and expects the forex losses to wind down after March.
|
|
Forex loans account for around a third of Russia's total banking portfolio, central bank statistics show.
|
|
It uses the Turkish Lira currency swap market to increase the efficiency in forex liquidity management.
|
|
FOREX: The Canadian dollar CAD=D4 strengthened to a four-month high against its U.S. counterpart.
|
|
FOREX: The Canadian dollar CAD=D4 strengthened to a four-month high against its U.S. counterpart.
|
|
Net forex sales totalled $205.5 billion in the first seven months of this year, SAFE said.
|
|
The SFO was one of several authorities around the world to investigate alleged forex market manipulation.
|
|
Revolut first converts the money with its forex feature and then lets you spend your money.
|
|
FOREX: The dollar index lost ground but then regained some, and was last down 0.2 percent.
|
|
Forex traders have reacted sharply to administration comments previously seen as backing a weak-dollar policy.
|
|
As Beijing warms to monetary easing, though, lines in the forex sand will blow away quickly.
|
|
"That's why we didn't see a lot of moves in either rates or forex," Serebriakov added.
|
|
Nabiullina said she was aware of market concerns and uncertainty around the resumption of forex buying.
|
|
The maximum ratio of forex collateral will rise to 70 percent from 50 percent from Jan.
|
|
For the January to August period, net forex sales stood at $215 billion, the regulator said.
|
|
Mancell, who co-owns an online trading business called Girls Gone Forex, is one of them.
|
|
A trade resolution will likely increase the yuan's value and in turn, demand from China, Forex.
|
|
But exports have fallen this year as factories hit by forex shortages struggle to import components.
|
|
"At the moment, the dollar remains in correction mode," said Fawad Razaqzada, market analyst at Forex.
|
|
You can score the New York Forex Institute Training and Certification Course now for only $25.
|
|
However if yields were to ease, bullion could recover lost ground over the coming days, Forex.
|
|
Its forex business is part of the trading operations being bought by private equity giant Blackstone.
|
|
VTB and Sberbank did not respond to Reuters questions about how much forex liquidity they hold.
|
|
And JPMorgan has been racking up record daily volumes in forex, rates, futures, and algorithmic execution.
|
|
"I think it's a trade-off," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
BANK INDONESIA GOV SAYS POTENTIAL MISSING FOREX EARNING FROM DROP IN TOURISM SEEN AROUND $1.3 BLN
|
|
TURKEY'S ERDOGAN CALLS ON TURKS TO CONVERT THEIR FOREX TO TURKISH LIRA, SAYS "LEAVE THE DOLLAR"
|
|
The company also raised its full-year equipment sales forecast, mainly due to expected forex gains.
|
|
"The uncertainty surrounding fiscal policy has not disappeared" he told the Assiom-Forex conference on Saturday.
|
|
CEO said in the report that banks involved in a separate forex manipulation scandal which emerged in 2013 have been heavily represented on the ECB's Foreign Exchange Contact Group, although it did not suggest that any individual members of the group had been involved in forex rigging.
|
|
The spat over Quinn's memos to prospective opt-out clients took place in the U.S. forex class action – but if you believe Quinn Emanuel, the subtext is that Scott & Scott, in particular, is hoping to play a big role in forex litigation for clients with European claims.
|
|
The country has lost $1 trillion of forex reserves since mid-2014, including $320 billion last year.
|
|
And then, there is the issue that forex revenues should cover the cost of servicing foreign loans.
|
|
Last year, the central bank decreased required reserves for Turkish banks and provided lira and forex liquidity.
|
|
"There are a lot of moving parts," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
The bank is aiming to provide the tools to corporate clients with complex, cross-border forex flows.
|
|
With forex reserves at half their pre-uprising level, the Egyptian pound has come under increasing pressure.
|
|
It is asking Ethiopians abroad to contribute as part of efforts to help end a forex shortage.
|
|
The SFO was conducting one of several probes around the world into the alleged forex market manipulation.
|
|
This would seem to confirm investor concerns that TSMC's earnings will take a hit from forex losses.
|
|
At the heart of the forex brokers' optimism is the possible repeal of the Dodd-Frank Act.
|
|
Vasileios Gkionakis, global head of forex strategy at Lombard Odier, said he was worried about an election.
|
|
It said it could take further measures if there is "unhealthy pricing behaviour" in the forex market.
|
|
Nigeria's forex buffer has climbed nearly 50 percent since last February when it stood at $29.3 billion.
|
|
"I think its their biggest signal yet," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
With forex reserves at half their pre-uprising level, the central bank cannot defend the currency indefinitely.
|
|
The bank uses the Turkish Lira currency swap market to increase the efficiency in forex liquidity management.
|
|
"The positivity regarding a potential US-China trade deal will soon be fully priced in," said Forex.
|
|
Central bank officials were not available to comment on whether it had intervened in the forex market.
|
|
In forex markets, the Japanese yen - a perceived safe haven - held near its highest since Feb. 11.
|
|
Nigeria's forex reserves have fallen 2.68 percent in one month to $27.83 billion as of May 10.
|
|
"That could lift the cloud over German manufacturing," said Kenneth Broux, corporate forex strategist at Societe Generale.
|
|
The absence of the central bank's intervention in the forex market added to the rise, they added.
|
|
"Typically, in December there is dollar shortage," said a senior forex dealer at a state-run bank.
|
|
Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo said the dollar's recent bounce lacked conviction.
|
|
Foreign central banks have already been approved to trade directly in the country's massive interbank forex market.
|
|
Economists polled by Reuters had forecast forex reserves would fall by about $10.5 billion to $3 trillion.
|
|
"That could lift the cloud over German manufacturing," said Kenneth Broux, corporate forex strategist at Societe Generale.
|
|
Central bank officials were not available for comment on whether it had intervened in the forex market.
|
|
"Dollar is mostly weakening and that has continued to be the number one supporter of gold," FOREX.
|
|
"It can be more but then the forex of the central would be very thin," he said.
|
|
BI has previously said on Twitter it would continue to intervene in both forex and bond markets.
|
|
IXIC down 1.3% * BONDS: U.S. 10-yr Treasury yield US6463YT=RR falls to 1.532 * FOREX: Dollar index .
|
|
London's grip on the bank trading business is encouraging more forex fintechs to expand in the city.
|
|
The regulator described it as a "flagrant violation of extant laws," guiding forex repatriation in the country.
|
|
Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo, said the dollar's recent bounce lacked conviction.
|
|
"I'm personally quite pessimistic on any deal being made," said Jordan Rochester, G10 forex strategist at Nomura.
|
|
"The gradual convergence of the exchange rate on both black market and investor forex window is an opportunity for the central bank to unify rate in all segments of the forex market," Aminu Gwadabe, president of the country's Association of Bureaux De Change Operators told Reuters late on Thursday.
|
|
To the local populations of the aforementioned countries, managing currencies has turned common people into artisanal forex traders.
|
|
Bank forex trading desk heads say investor activity has retreated in recent weeks after a first-quarter bump.
|
|
Admiral also warned of the additional fallout from Brexit of economic uncertainty and interest rate and forex volatility.
|
|
In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
|
|
Kallaur wants to increase Belarussian forex reserves to $10 billion, which includes a $300 million increase this year.
|
|
"I think yesterday's US manufacturing PMI report was a game changer," said Fawad Razaqzada, technical analyst at Forex.
|
|
Given the size of London's forex market, O'Higgins said the total value would likely exceed a billion pounds.
|
|
"We are just seeing some stabilization after very bad four days," said Lee Hardman, forex strategist at MUFG.
|
|
While forex volatility has risen to its highest in four months, it is barely half of 2016 levels.
|
|
But a properly planned and programmed arrangement will allow for... predictable import flow and ensure additional forex saving.
|
|
"Apart from a liquidity measure, this is also a forex move," said a trader at a foreign bank.
|
|
Repositories are used by banks and others to record their derivative, commodities, forex, stock and interest rate transactions.
|
|
It said it would continue forex sales from the SOFAZ wealth fund at the central bank dollar auctions.
|
|
Forex markets were much more volatile and in Singapore some traders came in as early as 5 a.m.
|
|
Economists polled by Reuters had expected forex reserves to drop by $25 billion to $2.973 trillion in February.
|
|
"There's a thing called 'Trump thermometer'," said David Bloom, London-based global head of forex strategy at HSBC.
|
|
BI said the forex reserves were adequate to support the stability of the country and maintain economic prospects.
|
|
Huang said China's forex reserves can currently only be invested in liquid foreign debt, which generates low returns.
|
|
Refinitiv will give LSE an entry into the world's $5 trillion-a-day forex market, which London dominates.
|
|
"We are just seeing some stabilisation after very bad four days," said Lee Hardman, forex strategist at MUFG.
|
|
The BSMV tax on all forex transactions was set at 0.1% under a cabinet decision published in 1998.
|
|
"Therefore, we can avoid from using excessive foreign exchange reserves to intervene in the forex market," Yu said.
|
|
Lee declined to comment on the exchange rate, only saying that Taiwan's exporters should hedge their forex positions.
|
|
The central bank has been injecting dollars into the forex market to support the naira and the economy.
|
|
The BNM governor said that stability measures have reduced volatility in the ringgit and the domestic forex market.
|
|
"In this environment the dollar was holding up well," said Thu Lan Nguyen, a forex strategist at Commerzbank.
|
|
The SFO is also investigating allegations of fraud at Global Forex Investments, another company linked to the case.
|
|
Falls in the central bank's forex reserves have contributed towards negative sentiment in financial markets in recent weeks.
|
|
China's retail sales decelerated in November to 8.1%, the weakest pace since 2003, according to Bannockburn Global Forex.
|
|
"If we're to get a major and sustained forex (foreign exchange) move, it would help some," he added.
|
|
These lenders will be provided with some $5.1 billion of forex and gold liquidity, the central bank said.
|
|
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|
It said it would "continue pursuing other ongoing procedures concerning past conduct in the Forex spot trading market."
|
|
"Ultimately the rate will determine whether more money will flow into the official forex market," the trader said.
|
|
" MADHAVI ARORA, ECONOMIST - FOREX & RATES, EDELWEISS SECURITIES, MUMBAI "Fiscal constraints will imply cautious government spending from here on.
|
|
"Net reserves are negligible in Turkey," said Tatha Ghose, forex and emerging market analyst at Commerzbank in London.
|
|
"I think it's been on a real streak," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
Q: The $1 trillion fall in PBOC's forex reserves since July 2014 implies heavy action by the PBOC.
|
|
"In this environment the dollar is holding up well," said Thu Lan Nguyen, a forex strategist at Commerzbank.
|
|
Peter Kinsella, Union Bancaire Privée's global head of forex strategy, said a Conservative majority remained his expectation, however.
|
|
In August 2012 Euro Forex Investment Ltd moved into London's Heron Tower, the tallest building in the City.
|
|
He was first jailed after passing himself off as a forex whiz to con more than 100 investors.
|
|
The central bank is introducing the new rules to try to reduce forex risks in the banking sector.
|
|
But two forex analysts based in the city said the protests added pressure, heightening concerns about capital outflows.
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In addition, the central bank is so low on forex it has barely three weeks of import cover left.
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It has also said forex sales from the SOFAZ wealth fund would continue as well as central bank auctions.
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Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo expected the common currency to hold onto its gains.
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Revolut also applies a small 0.5 percent to 1 percent markup when forex markets are closed during the weekend.
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Within China, firms like Cardiff are targeting small cities and counties, seeking to convert stock investors into forex traders.
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The bank, which holds regular forex auctions on Tuesdays, said it sold $118.7 million of an intended $120 million.
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The next Fibonacci technical level for the rupee will be 72.50-72.80 against the dollar, the forex analyst said.
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Kamal Sharma, G10 forex strategist at Bank of America Merrill Lynch, said the market had "over-interpreted" Merkel's comments.
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Competition in these rapidly growing markets have put pressure on margins and revenue, and volatile forex headwinds haven't helped.
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Officials of the central bank were not available to comment on whether it had intervened in the forex market.
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Vinyard's email address changes mid-correspondence from an NRGbinary domain to Algo Capitals, another forex and binary options site.
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Algo Capitals claims on its website to be "at the forefront of innovation" in binary options and forex trading.
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N] ** BONDS: 2- US2YT=RR and 10-year US10YT=RR Treasury yields tick higher [US/] ** FOREX: The dollar index .
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Mangudya said an average $12 million had been traded every week at the current forex interbank rate since Feb.
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"Everything is selling off right now," said Ray Attrill, head of forex strategy at National Australia Bank in Sydney.
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A second banker on the forex team of an international bank said his bank had received the same instructions.
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Huang also said China's forex reserves can currently only be invested in liquid foreign debt, which generates low returns.
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It projected that this could rise further to $675 billion this year based on broader forex trading volume growth.
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"I can't expect anything hawkish from the minutes," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
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The banks targeted were likely picked because of the large scale of their cross-border forex businesses, sources said.
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Global forex trading likely will be subdued on Thursday as U.S. financial markets are closed for a public holiday.
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FOREX: The U.S. dollar was hovering around unchanged, turning down 0.12 percent from a slight gain before the data.
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"Also supporting the markets is probably bargain hunting of companies with good fundamentals and short-covering elsewhere," wrote Forex.
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The Korean won strengthened following forex officials' warning to curb its further weakness, while the benchmark bond yield fell.
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Forex reserves data are expected to be released this weekend, with trade, inflation and loan figures out next week.
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Big banks including Citi, BNP Paribas, Deutsche Bank, Goldman Sachs and UBS base their global forex heads in London.
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"What's negative for Boris (Johnson) is positive for the pound these days," said Jordan Rochester, forex strategist at Nomura.
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FOREX: The U.S. dollar gained against a basket of currencies to its highest levels in 2-1/2 weeks.
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One senior trader said forex revenues at his London-based bank have shrunk 5% a year for several years.
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"Like a herd, market participants have a tendency to follow the money," said Fawad Razaqzada, market analyst, at Forex.
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MPM has hedged its USD173m bonds, which should mitigate forex risks as its revenue is mainly denominated in Indonesian rupiah.
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" On competitive forex devaluations: "As for whether the G20 will specifically coordinate exchange rates, it has never done this before.
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On the interbank forex market on Monday, one U.S. dollar fetched 2.5 RTGS dollars, the same rate as on Feb.
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That has made millions for a generation of forex entrepreneurs but has also begun to draw a response from banks.
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Authorities have also taken steps that economists described as "unorthodox," including state banks selling forex to prop up the lira.
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Some developers have chosen to not hedge forex risks, however, believing that expensive hedging tools are a double-edged sword.
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"Everybody knows the Trump, Xi meeting could go either way," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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"It's difficult for many central banks to act before the Fed," said Nordine Naam a senior forex analyst at Natixis.
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Valentin Marinov, head of G153 forex strategy at Credit Agricole, told CNBC Wednesday that the 3.4 percent level was worrisome.
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Egypt has promised a more flexible exchange rate to ease the forex shortage and end the black market for dollars.
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"Mario Draghi last week signalled a willingness to incrementally turn more hawkish," Saravelos said in a forex report published Wednesday.
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"Sterling already trades at crisis levels and typically struggles to go much lower," said Jordan Rochester, forex strategist at Nomura.
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"Investors are moving into racier equity markets rather than slower moving precious markets," said Fawad Razaqzada, market analyst with Forex.
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"At the moment, the dollar remains in correction mode, which we had fully expected," said Fawad Razaqzada, market analyst, Forex.
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Meanwhile total forex deposits and funds, including precious metals, of Turkish local individuals hit a record high of $105.74 billion.
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John Mangudya said an average $12 million had been traded every week at the new forex interbank rate since Feb.
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The KSF also recommended introducing changes to the borrowers suport fund but did not recommend additional taxation of forex loans.
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Egypt also launched this week new certificates at attractive yields to lure forex from a diaspora of almost 5 million.
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"Stronger demand and supply restrictions from OPEC and Russia are the main reasons for the oil price upsurge," said Forex.
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Trying to lure back foreign currency, Egypt has introduced instruments from diaspora bonds to forex hedging options on local treasuries.
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The presidential decision also set at zero the BSMV forex sales tax on transactions between banks, and to the Treasury.
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The bank added that the move would lead to the withdrawal of $4.2 billion of forex liquidity from the market.
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The latest move by the central bank makes it more costly for banks to keep forex deposits, one trader said.
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The unexpected spike in funding costs has forced some forex traders to bail out of short-yuan, long-dollar positions.
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China suspended forex business for some foreign banks, including Deutsche, DBS and Standard Chartered at the end of last year.
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A group on the Telegram messaging service, called the Forex and Gold Portal, was suspended; it had around 38,000 members.
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"Donald Trump's ambitious fiscal plans point to stronger growth in the coming quarters," said Fawad Razaqzada, market analyst at Forex.
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Big banks and trading platforms compete on speed when trading forex and invest heavily in cutting edge technology in London.
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Thursday's EU fines have sounded a starting bell for investors considering suing banks over alleged forex-related losses in Europe.
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In May, to help boost the beleaguered lira, Turkey increased the same tax to 0.1% from zero for forex sales.
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Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo expected the common currency to hold on to its gains.
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"Clarity about the Fed nomination would be positive for the dollar," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
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Admiral also warned of additional risks from the Brexit referendum result from economic uncertainty and interest rate and forex volatility.
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The announcement comes as IBFX exits the forex dealer business, with the transfer scheduled to take place on March 4.
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In particular, they emphasized that the forex and ISDAfix rates were determined through actual trades, not just by banks' voluntary submissions.
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"Revenue is improving but we need to step this up to address rising costs from fuel and forex volatility," he said.
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Stimpson, who was a forex trader at Citigroup for 25 years, was fired for sharing confidential client information with other traders.
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Japanese Finance Minister Taro Aso said that while nervous moves were seen in the forex market, the underlying moves were stabilising.
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"Mario Draghi and his colleagues may hint at the prospects of tapering QE early," said Fawad Razaqzada, technical analyst for Forex.
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"Ethiopia is seeking influx of forex, so things such as cross-border remittance (platforms), are very handy to them," he said.
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"Debt investors are also worried but they are hedging their forex risks while equity investors are pulling out," another dealer said.
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In a statement to Reuters, China's State Administration of Foreign Exchange (SAFE) reiterated that forex margin trading is illegal in China.
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In recent years, it has launched a digital payments bank, and has started to offer prepaid Forex cards for international purchases.
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BONDS: 2- US2YT=RR and 10-year US10YT=RR Treasury yields tick lower; yield curve flattens slightly FOREX: The dollar index .
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Xiamen-based Gold and Forex Management Co is one of many firms advertising online as an asset management firm offering loans.
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|
"RBI wants to stagger payments to Iran to pre-empt any undue volatility in the domestic forex market," said one source.
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|
"Speculation of a December rate hike reached mind-boggling levels," said Lukman Otunuga, research analyst at Forex Time in Croydon, England.
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The reserve fund is part of the country's gold and forex reserves that stood at $432 billion as of Dec. 22.
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On the technical front, "gold is now heading towards the next potential resistance around $1313, a former support level," said Forex.
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Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo said those concerns meant the bias remained towards more dollar weakness.
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Traders took the comments as evidence that authorities were considering resuming forex market interventions to halt recent gains in the rouble.
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"This could be the calm before the storm," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.
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She added that the central bank was also considering making banks set aside more reserves for retail and corporate forex deposits.
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Ghana's cedi is seen firm next week on increased central bank dollar sales amid softening forex demand by businesses, analysts said.
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|
The cedi has steadied in recent months on sustained forex inflows from offshore and local dollar sellers, including the central bank.
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Lukman Otunuga, an analyst with forex broker FXTM, said technical traders may continue to test the 13,900 level despite BI intervention.
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China also suspended forex business for some foreign banks, including Deutsche, DBS and Standard Chartered at the end of last year.
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"You must control your forex deficit, but you can't say that SAFE is controlling capital outflows," the official told the bankers.
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EBS forex volume for the first six months of the year totaled $105.3 billion, down 15 percent from a year earlier.
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There are two main directional scenarios for the yen following the election, said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
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Natixis writes that China's central bank is probably targeting short-term transactions so as to reduce speculation in the forex market.
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Jane Foley, forex strategist at Rabobank, also mentioned the fading of political risks in Europe as being supportive for the euro.
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|
The U.S. Justice Department has continued to investigate, and HSBC has set aside $1.2 billion to cover various forex-related matters.
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|
"The groundwork for the establishment of cooperative banking groups must be laid more rapidly," he told the Assiom-Forex banking conference.
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In 2015, it imposed caps on the deposit and withdrawal of forex, while letting the pound gradually weaken some 10 percent.
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For many bankers and economists, the question is whether the central bank can stay the course without a major forex injection.
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|
The agreement is the latest in a string of global regulatory settlements with big Wall Street banks over forex trading practices.
|
|
"It is fear itself," National Australia Bank's London-based Global Head of Forex Nick Parsons said about the Deutsche Bank angst.
|
|
John Hardy, head of forex strategy at Saxo Bank, also said via email that the BOE opted for a "dovish hike".
|
|
The BDDK banking watchdog last week imposed a one-day settlement delay on forex purchases of more than $100,000 by individuals.
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Forex reserves are expected to further stabilise, the regulator said, adding that the monthly change in reserves' total is also stabilising.
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|
Forex trading is a massive industry, and is one of the largest, most liquid, and fastest-paced markets in the world.
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CAIRO, Nov 3 (Reuters) - Egypt's central bank will offer $4 billion at a special forex auction on Thursday, bankers told Reuters.
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"Powell sounded natural and his speech was nothing out of the ordinary," said Mitsuo Imaizumi, chief forex strategist at Daiwa Securities.
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Yi, a renowned economist who has a PhD from the University of Illinois, was named the top forex regulator in 2009.
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"Markets will likely remain treacherous in the New Year," Marc Chandler, chief market strategist at Bannockburn Global Forex LLC, told clients.
|
|
Then add: a weak banking sector, budget deficits, current-account gaps, substantial short-term foreign-currency debt and inadequate forex reserves.
|
|
You'll start with the basics, eventually moving on to utilizing tools and languages like Python, Machine Learning, Forex, IBridgePy, and Quant.
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"Hope triumphed over realism yesterday, and realism is fighting back," today, wrote Marc Chandler, chief market strategist at Bannockburn Global Forex.
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The naira was quoted at 362.39 a dollar on the investor forex window on Thursday against 367.49 per dollar last week.
|
|
Neither Bank of China nor the State Administration of Foreign Exchange (SAFE), which oversees China's forex policy, had an immediate comment.
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|
Adjusting for non-cash items, including forex gains, Severstal said it would have made an underlying net profit of $293 million.
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In forex markets, the dollar was the central focus as it slipped 225 percent to 248.96 against a basket of currencies .
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The central bank said it allocated $500 million in a forex deposit auction on Wednesday, after receiving bids of $611 million.
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Reduced Forex Exposure: Kaztel repaid KZT27 billion of US dollar-linked notes in 4Q7503, fully removing debt exposure to currency risks.
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"The dominant themes now are Trump's tax plan, and the French elections," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
|
|
During a "proof of technology" run last month, data on forex trades was distributed over blockchain to nine participants, ICAP said.
|
|
The three arrests include two managers of the forex department and one officer responsible for checking swift messages, the official said.
|
|
The GM strike could impact September's jobs numbers, which are already slowing, notes Bannockburn Global Forex chief market strategist Marc Chandler.
|
|
"The insurers must manage their forex risk ... We're closely monitoring the impact," said Thomas Chang, deputy director general of the insurance regulator.
|
|
Dividend payments and shareholder loan repayments by foreign investors were also subjected to tighter scrutiny — as were forex purchases by Chinese citizens.
|
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The forex regulator reiterated yesterday that it would check the authenticity of deals and maintain high pressure on fraud and other irregularities.
|
|
The central bank sold $20 million at a foreign-currency auction on Tuesday, its third intervention on the forex market this year.
|
|
The central bank has also sought to boost forex liquidity through several special operations in recent months, though pressures quickly build again.
|
|
They said the latest adjustment was meant to better reflect changes in the forex market, and help curb intraday speculative trading activities.
|
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The ratings are supported by the company's leading market position in fixed telecoms, low leverage, and a lack of material forex exposure.
|
|
"The market has interpreted the decision of the central bank positively," said Sergey Romanchuk, head of forex and money markets at Metallinvestbank.
|
|
Based in Yuncheng in eastern Shandong province, Shi was lured into forex trading five years ago by the prospect of quick fortune.
|
|
The latest move is aimed at discouraging dollarisation and makes it more costly for banks to keep forex deposits, one trader said.
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" RODRIGO CATRIL, SENIOR FOREX STRATEGIST, NATIONAL AUSTRALIA BANK: "It's been a pretty good speech in terms of soothing market concerns over trade.
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Small companies typically pay overseas suppliers, or foreign workers, via their bank, paying transaction fees and a "spread" on the forex rate.
|
|
"Even if there is an actual intervention, its sustained success is far from guaranteed," said James Chen, senior market analyst at Forex.
|
|
D'Ambrosio said Alpari's decision to return to the United States would hinge partly on easing regulations such as rules on forex reporting.
|
|
The central bank imposed strict controls on hard currency movements in February 2015 to preserve scarce forex for imports of essential goods.
|
|
On May 27 China's forex regulator published cross-border capital management rules on depository receipts, paving the way for Huatai's London listing.
|
|
"A rate hike of 25 basis points on Wednesday is almost a foregone conclusion," said James Chen, head of research at Forex.
|
|
HONG KONG (Reuters Breakingviews) - China's forex reserves have fallen below $3 trillion for the first time in nearly six years in January.
|
|
"It's clear now the trade war has become integrated with currency war," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
"You want to stay short euro and sell the rallies," said Stephen Gally, European head of forex strategy at BMO Capital Markets.
|
|
The situation with forex liquidity is absolutely normal and we see no signs of an increase in demand in the near future.
|
|
"The latest mark to market for BHP using spot forex and commodity prices – points to 20-30 percent earnings uplift," it said.
|
|
"On Friday we were looking into the abyss," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC in New York.
|
|
Indicated up 0.3 percent Wirecard said it signed a contract with Weizmann Forex to offer Western Union money-transfer services in India.
|
|
On the technical front, "key short-term support for gold comes in at $0.33,280, while resistance is seen around $1,300," said Forex.
|
|
"Forex looks to be trading a little bit risk off today," said Sam Lynton-Brown, a strategist with BNP Paribas in London.
|
|
The statement also told banks to strengthen checks on forex transactions to make sure they were genuine and based on actual needs.
|
|
Even Chinese firms, such as Citic Securities, Nanhua Futures and carmaker Geely, have entered the market, through acquiring overseas forex trading platforms.
|
|
Counterparty and Forex Risks: TBI's revenue has low counterparty risk as 83.5% comes from Indonesian telco operators with investment-grade international ratings.
|
|
TAIPEI, Sept 14 (Reuters) - Taiwan's central bank said on Thursday: * It is planning to allow customers to open forex deposit accounts online.
|
|
But the decision to drop the forex inquiry has led some to question whether the agency is now willing to risk failure.
|
|
The forex collateral move will be adjusted further when deemed necessary, based on developments in global market conditions, the central bank said.
|
|
"Stocks are at extremely high levels in the U.S., but I think Europe is going to start playing catch-up," said Forex.
|
|
Mark Johnson is the first banker to be convicted in the American Department of Justice's lengthy transatlantic investigations into the forex market.
|
|
New Delhi feels that with forex reserves amounting to $410 billion as of June 15, it could deal with the current storm.
|
|
Forex deposits accounted for 55% of all deposits in the banking sector as of May 17, data on the BDDK's website showed.
|
|
UniCredit's core capital ratio would actually benefit from not having to set aside money for forex losses linked to the lira depreciation.
|
|
The report, "Indonesian Banks' Stress Test: Most Large Banks Can Withstand Higher Credit Costs Under Stress, Forex Volatility", is available at www.fitchratings.
|
|
Guo was previously governor of the prosperous province of Shandong, head of China's forex regulator and chairman of the country's securities watchdog.
|
|
All spot forex trading, where its volumes top $100 billion a day, would remain in London, as would its post-trade services.
|
|
On March 10, it sold the equivalent of 3.6 billion roubles ($48.83 million) in forex, its first such move in five years.
|
|
" A separate document describing the policy framework for entry into the forex market made a similar declaration: "Repatriation of funds is allowed.
|
|
Euro Forex Investment Limited, the registered name for EuroFX, was wound up last month, according to documents filed with the companies registrar.
|
|
"The state (banks) are in the market on the forex supply side today too, as they were on Friday," one trader said.
|
|
"We're closely monitoring (forex) markets in particular, and will take necessary steps if speculative trading leads to herd-like behaviors," he added.
|
|
"Its always positive when you hear both sides willing to stick with each other," said Piotr Matys, EM forex strategist at Rabobank.
|
|
The central bank normally sells no more than $40 million at its regular forex auctions, which are held three times a week.
|
|
"What Powell said in his remarks was inflation was below his target," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
Ali Fuat Erbil, who was speaking in Istanbul, also said he expects a contraction in forex loans in the next two years.
|
|
Naeem Aslam, chief markets analyst at Think Forex UK says a lot depends on the strength of the dollar and the Chinese growth.
|
|
"I think the dollar is already coming off its post-Trump honeymoon period," Jane Foley, head of forex strategy at Rabobank, told CNBC.
|
|
Its suite of equity, commodities and forex derivative products have helped power earnings growth, despite a subdued performance in its cash equities business.
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The data - forex purchase position - measures how much foreign currency is sold or bought by both the central bank and commercial financial institutions.
|
|
Standard Chartered bank recently completed a cross-border transaction through DLT in just 10 seconds, with full transparency of fees and forex charges.
|
|
Ghana's cedi could dip on speculative dollar buying, fuelled by uncertainty over supplementary forex inflows to augment central bank sales, an analyst said.
|
|
Overseas forex brokers, however, have been active in China since the 1980s, offering leverage of up to 400-times, thanks to lax enforcement.
|
|
"The market is testing the central bank's resolve to defend the 7 lever," said Marc Chandler, global market strategist at Bannockburn Global Forex.
|
|
Correction: This story has been amended with a corrected quote from Naeem Aslam at Think Forex UK to show the unemployment ticked lower.
|
|
"Expectations were that the ECB will be willing to hasten policy normalisation," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
|
|
It said the presidential decision also reduced to zero the same tax on forex sales to those repaying to banks foreign currency loans.
|
|
The potential implications of the Trump-Xi meeting for U.S. monetary policy are huge, said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
|
|
Nigeria witnessed increased foreign investment in local currency denominated bonds prior to last year's foreign exchange restrictions introduced to conserve depleting forex reserves.
|
|
"A U.S.-China trade deal could boost the yuan, allowing Chinese investors to purchase more gold than would otherwise be the case," Forex.
|
|
"The ongoing political angst in Europe also has contributed to risk-off market sentiment," said Kengo Suzuki, chief forex strategist at Mizuho Securities.
|
|
Trump's delay of higher tariffs "didn't come as a total surprise," said Shinichiro Kadota, senior forex and rates strategist at Barclays in Tokyo.
|
|
"Speculation of a December rate hike reached mind-boggling levels," said Lukman Otunuga, research analyst at Forex Time Ltd (FXTM) in Croydon, England.
|
|
"If U.S. stocks are to bounce back, economic indicators will be key," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
|
|
"Even if there will likely be more forex demand next week, the yuan might not swing wildly," said the same trader in Shanghai.
|
|
"Sentiment towards cryptocurrencies is turning sour with negative headlines pouring out from left, right and center," said Fawad Razaqzada, an analyst at FOREX.
|
|
China will also safeguard and increase the value of the country's forex reserves in the second half of this year, the SAFE said.
|
|
"I think people are expecting some detail about a long-term loan operation," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
|
|
SAFE also said it would step up monitoring on cross-capital flows and crack down on illegal forex activities, according to the statement.
|
|
Stability from Agency Trading: Agency trading, where Tewoo passes on pricing and forex risks to counterparties, comprises more than 21500% of Tewoo's business.
|
|
The unexpected spike in funding costs forced some forex traders to bail out of short-yuan, long-dollar positions earlier in the week.
|
|
The practice, mainly within the forex department, was occurring until early this year and dates back to at least 2004, the Journal reported.
|
|
The sources said the latest adjustment was meant to better reflect changes in the forex market, and help curb intraday speculative trading activity.
|
|
"The market expects concrete measures to address economic imbalances accompanied by a specific timetable," said Piotr Matys, emerging markets forex strategist at Rabobank.
|
|
For the January to February period, net forex sales stood at $29.3 billion, the State Administration of Foreign Exchange said on its website.
|
|
Quinn, of course, said it didn't mean to disparage class counsel but only to highlight the strength of the case against forex defendants.
|
|
The eighth consecutive monthly rise in the country's forex reserves was attributed by Reuters to strict capital outflow regulations and a firmer yuan.
|
|
John Hardy, head of forex strategy at Saxo Bank, told CNBC via email that so far market reaction to Brexit has been random.
|
|
It also said forex reserves would reach $25 billion this year, a level Amer has said would allow for a more flexible approach.
|
|
"So far, what Maduro has said about this 'new forex scheme' is more of the same," said local economist Asdrubal Oliveros on Twitter.
|
|
BEIJING (Reuters) - China's foreign exchange regulator said on Friday that recent media reports about forex controls are untrue and disturb normal market operations.
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BONDS: U.S. Treasury yields fell; 2s US2YT=RR were at 2.8087 pct; 10s US10YT=RR at 3.0608 pct FOREX: The U.S. dollar index .
|
|
While forex trading volumes for January are not yet available, December trading volumes showed a spurt before the MiFID II regulations kicked in.
|
|
"China's forex reserves have declined significantly over the last 2913 months, edging beneath $7503 trillion at the start of this year," he said.
|
|
The central bank's gross forex reserves fell to $72.47 billion as of March 13, from $75.14 billion a week earlier, data also showed.
|
|
The central bank's gross forex reserves fell to $75.14 billion as of March 6, from $77.41 billion a week earlier, data also showed.
|
|
Volatility has doubled in forex markets in the space of a few weeks, but has been less pronounced than in equities and bonds.
|
|
Indian stock markets will be open for trading on Saturday on account of the budget, but debt and forex markets will remain shut.
|
|
An official at a mid-sized shareholding bank in Shanghai, who declined to be identified, said the lender had suspended all forex purchases.
|
|
The Reserve Bank of India likely sold dollars, though the force was mild, according to two senior forex officials at state-run banks.
|
|
Milan, Assiom Forex ends XVII Pan-European Banking Meeting conference on "Action Plan 10003 for a sustainable and responsible union of capital markets".
|
|
"The central bank was still consulting with bank industry players to determine how the new forex policy would work," one senior banker said.
|
|
The country's finance ministry told Reuters it has the necessary resources, including gold and forex reserves, to meet all debt obligations this year.
|
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The country's finance ministry told Reuters it has the necessary resources, including gold and forex reserves, to meet all debt obligations this year.
|
|
Spot foreign exchange was excluded, but forex derivatives are covered by the rules, which require pre- and post-trade data to be reported.
|
|
Notably, mainland China registered an 87% increase in trading activity to become the eighth-largest forex trading centre, up from 13th in 123.
|
|
"As a result of these revisions, approximately $2.9 billion of forex liquidity will be withdrawn from the market," it said in a statement.
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It said in a statement that the move would result in the withdrawal of approximately $2.1 billion of forex liquidity from the market.
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ANKARA, Jan 18 (Reuters) - Turkish central bank will open forex depot market on Wednesday and will be taking the bids between 11:00 a.m.
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The central bank will be lending forex to banks with a maturity of one week and will announce the results at 11:45 a.m.
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A decision by the UK's Serious Fraud Office earlier this year to drop its criminal investigation into forex-rigging seemed to bolster that argument.
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The arrest could cause reputational damage to the global bank's forex trading business and fuel more calls for HSBC to face full criminal charges.
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Often regarded as the global capital of foreign exchange trading, London's global share of forex trading has slipped considerably in the past three years.
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It is in the latter that Trump is likely to focus this Friday, Jane Foley, senior forex strategist at Rabobank, told CNBC on Wednesday.
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Recurring net income, which excludes one-off gains and forex translation, rose to 54.7 billion pesos ($1.05 billion) in the 12 months to Dec.
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The central bank last month raised the cap on forex deposits fivefold to $250,000 for essential food, medicine and raw materials, relieving some pressure.
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Shinichiro Kadota, senior forex and rates strategist at Barclays in Tokyo, said he expected the market focus would shift back to global economic fundamentals.
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The central bank also said raising forex settlement reserve requirements is a transparent, non-discriminatory, price-based prudential policy tool, not a capital control.
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Aso called the forex market's recent moves "one-sided", and said rapid movements were undesirable, reiterating verbal warnings made by Japanese officials on Thursday.
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"There's not a lot of economic data next week, so events hang over us," said Marc Chandler, chief global strategist at Bannockburn Global Forex.
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"You can make the argument that dollar strength is likely to persist longer than previously expected," said Kamal Sharma, G10 forex strategist at BAML.
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Instead, it has sought to preserve forex reserves for food, fuel, medicines and manufacturing components, by rationing dollars to non-essential goods and services.
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Forex deposits and funds including precious metals of Turkish individuals rose steadily in the six months to April but have slightly declined since then.
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FIGHTING BACK Small companies typically pay overseas suppliers, or foreign workers, via their bank, paying transaction fees and a "spread" on the forex rate.
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The BIS report said blockchain or the distributed ledger technology (DLT) that underpins cryptocurrencies, could make settling trades of securities and forex more efficient.
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"I think they will avoid a shutdown, but there is concern about that," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
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Saxo Bank, whose rivals include FXCM Inc Interactive Brokers Group Inc and Monex Group, is among the global top 10 in retail forex trading.
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In an abridged version of the interview available on Wednesday, Jordan had said the SNB was still ready to intervene in the forex market.
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China will fend off cross-border capital flow risks and continue to open up its foreign exchange market, the forex regulator said on Sunday.
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Ghana's cedi is expected to hold steady next week on improved forex inflows to match dollar demand by local firms and businesses, traders said.
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Saxo Bank, whose rivals include FXCM Inc, Interactive Brokers Group Inc and Monex Group, is among the global top 10 in retail forex trading.
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Referring to Rosneft, MOEX said in a statement that direct access to forex operations would allow the company to more effectively manage its liquidity.
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"This is an ECB meeting where the market seems unprepared for EUR/USD weakness," said George Saravelos, a forex strategist at the German lender.
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The central bank has quite a few ways of restricting importers and exporters, and curbing speculation in the forex market, he told the newspaper.
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Rabobank emerging market forex strategist Piotr Matys said the market was braced for a volatile week for the currency after local elections on Sunday.
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MOODY'S SAYS FALL IN RESERVES SUGGESTS THAT TURKISH CENTRAL BANK HAD BEEN INTERVENING IN FOREX MARKET TO PROP UP LIRA AHEAD OF LOCAL POLLS
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FOREX: The dollar erased its earlier gains in Asia, with the market jittery as Trump's speech was short on details on his economic stimulus.
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Despite the latest political developments, various gauges of volatility indicators for the pound ticked lower on Tuesday, reflecting a broader drop in forex volatility.
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A forex trader at one of the commercial banks said on Thursday the shilling was trading last week at 7153,2715/23,35 against the dollar.
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"Euro/dollar has now formed a strongly bullish technical trend that spans the past two months," said James Chen, head of research at Forex.
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Savvas has been living "one fight at a time" ever since he was a kid and is even sponsored by a leading forex broker.
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XTB, which enables online trading in financial derivatives on the forex, equity or commodities markets, plans to debut on the Warsaw bourse this quarter.
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The government has stepped up oversight of individual forex purchases and outbound investments by companies, saying it wants to close loopholes for speculative outflows.
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Forex and investment income rose 49 percent to 13 million dirhams, lifting operating income to 4.94 billion dirhams, up one percent on the year.
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The Shanghai Municipal Financial Service Office and the State Administration of Foreign Exchange (SAFE), China's forex regulator, did not respond to requests for comment.
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Bannockburn Global Forex announces China's retail sales decelerated to their weakest pace in 15 years and its industrial production was the slowest since 2002.
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China's forex and stock markets had plunged sharply on Monday in response to weak economic data, sparking a global sell-off of riskier assets.
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Police said they were executing three arrest warrants targeting employees of the bank, including a then forex director and a then former director general.
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The lawmakers' calls ramp up pressure on Buhari to address the forex gap, and echo comments on Tuesday made by his own vice president.
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BEIJING, Aug 16 (Reuters) - The impact of Brexit and seasonal factors increased demand for foreign exchange in July, China's forex regulator said on Tuesday.
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Volatility in the rouble also suffocates business and investment activity as companies tend to play forex markets instead of focusing on developing their business.
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Faisal Bukenya, managing director at Pay Uganda, a forex dealer said an upsurge in offshore investor demand and slowing remittances were weakening the shilling.
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The central bank's gross forex reserves rose to $78.27 billion as of the same date, from $77.95 billion a week earlier, data also showed.
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Even countries such as Russia and China, with their much greater reserves, have found their forex firepower eroded quickly once pressure mounted, he added.
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The central bank's gross forex reserves rose to $73.02 billion as of the same date, from $75.47 billion a week earlier, data also showed.
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Even countries such as Russia and China with their much greater reserves have found their forex firepower eroded quickly once pressure mounted, he added.
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Banks in the $5 trillion-a-day forex market usually thrive at times of volatility, when traders can make more money as prices swing.
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The forex assumption is now 51-52 to the dollar for 2019, and 51-83 from 2020 to 2022, it said in a statement.
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Forex trading has turned risk-averse in the recent few weeks as relatively strong economic indicators out of the United States boosted the dollar.
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Igor Marich, managing director of the money and derivatives market at MOEX, said Rosneft had promised the exchange a "stable" flow of direct forex operations.
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Previously, China's reporting system for individual forex purchases was too simple, and outdated, leaving loopholes that facilitated illegal money transfers and money-laundering, SAFE said.
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In an effort to curb demand for forex it says is wasted on needless goods, it plans to cut imports by a quarter this year.
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The company recorded foreign-exchange gains of C$403 million in the latest quarter, compared with forex losses of C$515 million a year ago.
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Analysts say that may explain how Beijing managed to stabilise the exchange rate while at the same time slowing the drain on its forex reserves.
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"In the last four or five months, payments became highly erratic," Vispi Patel, an executive at Weizmann Forex, which counts Jet as a client, said.
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Nabiullina repeated that the central bank considered it possible to restart replenishing the country's forex reserves once it had met its 4 percent inflation target.
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"The economic data is firming up in the US and this is making the dollar stronger," Naeem Aslam, chief market analyst at Think Forex, said.
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"The dollar's biggest problem is it can't expect help from the Fed for a long time," said Alan Ruskin, global head of forex at Deutsche.
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The shift towards greater acceptance of emerging currencies was highlighted recently when several central banks confirmed they now hold China's yuan in their forex reserves.
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"We do expect to see more commodity inflation in the balance of the year, and transactional forex will pressure commodities as well," Johnston told analysts.
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But Bank Negara still has a $19 billion liability on its forward position it needs to recoup after pumping liquidity into the forex trading system.
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The naira has been quoted at 364 per dollar for foreign investors since last week from 363.50, as liquidity dried up on the forex market.
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Financial markets were enthusiastic adopters of the euro in its infancy, with forex trading volumes and bond issuance in the euro quick to take off.
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"I think the Chinese seem to be accepting a weaker RMB but they're not causing it," said Marc Chandler, Bannockburn Global Forex chief market strategist.
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Milan, Assiom Forex holds banking meeting on "Euro Area Risks and Opportunities in a Zero Rates Environment"; head of Debt Management Office Maria Cannata attends.
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"We're aware the market right now is strong ... we'll see if it is exceptionally strong," he said on the sidelines of the Assiom-Forex conference.
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The moves are some of the bank's secondary tools to stabilise the currency by tightening policy and encouraging the conversion of forex deposits to lira.
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Wilkinson said last Friday that four Wells Fargo forex employees, Simon Fowles, Bob Gotelli, Jed Guenther and Michael Schauffler were no longer with the bank.
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"The chatter on forex desks is that the pound could hit parity with the dollar," ETX Capital CEO Andrew Edwards said in a note Thursday.
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The week kicks off with forex reserves data and a bunch of inflation numbers, before the focus will switch to trade figures out on Friday.
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"Sharp currency fluctuations which we have seen have shown that forex risks are very significant both for our banks and for borrowers," Nabiullina told Reuters.
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"The question now is if the UK parliament will approve the deal or not," said Athanasios Vamvakidis, global head of G20.69 forex strategy at BAML.
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Nicola Duke, an analyst at analysis platform Forex Analytix, said that if ethereum trades below $5713, then it could mean the price falls to $140.
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The International Organization of Securities Commissions (IOSCO) proposed a coordinated crackdown on sales of rolling-spot forex contracts, contracts-for-difference (CFDs) and binary options.
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China's central bank sold a net 91.6 billion yuan worth of foreign exchange in October - the third straight month of forex sales rather than purchases.
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NEW YORK (Reuters) - The U.S. Commodity Futures Trading Commission on Thursday said it filed a civil lawsuit against retail broker Forex Capital Markets LLC FXCM.
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Forex reserves rose $17 billion in September to $3.109 trillion, compared with an increase of $10.5 billion in August, central bank data showed on Monday.
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Investors remain anxious with a part of the U.S. yield curve inverted, Marc Chandler, chief market strategist at Bannockburn Global Forex, wrote in a note.
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However, if it is successful in bringing overseas hedging onshore, it could boost forex liquidity in the domestic market, said Bank Danamon economist Wisnu Wardana.
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Last week, China opened its forex derivative market to foreign investors, giving them a way to hedge foreign exchange exposure in the country's bond market.
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However, "a lot of investors will choose to hedge their forex exposure," which would limit the impact on spot yuan market, said the first trader.
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"The risk-averse sentiment stemming from 'hard Brexit' (worries) is pushing down the dollar/yen," Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
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In 2015, the CBN named it among 41 items ruled ineligible for forex through the Nigerian interbank market, in a bid to incentivize domestic production.
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If needed, the government could raise funds through foreign currency non-repatriable (FCNR) deposits, sovereign bonds or other routes to increase forex reserves, he said.
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Reserves dipped to $2.521 billion at the end of 2015 from $2.699 billion at the start of that year, mainly due to forex market interventions.
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The Reserve Bank of Zimbabwe introduced a new local currency and an interbank market in February to allow companies and individuals to trade in forex.
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The country's foreign exchange reserves were "ample" and the forex market would stabilise, he told reporters on the sidelines of China's annual session of parliament.
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It has also largely pulled out of Latin America and countries such as Russia and South Korea, except for some client-related forex trading activities.
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"Despite a hesitant start to July, the U.S. dollar remains among the strongest of currencies out there, owing to a hawkish central bank," said Forex.
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The country's foreign exchange reserves were "ample" and the forex market would stabilize, he told reporters on the sidelines of China's annual session of parliament.
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The forex reserves investment in U.S. Treasury bonds is a market activity, with investment professionally managed according to market conditions and investment needs, it said.
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The rest is made up of trade credits as well as lira and forex deposits by non-residents, according to the Institute of International Finance.
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The removal of forex mismatch between debt and EBITDA drives our decision to relax our downgrade threshold to 2.5x FFO adjusted net leverage from 2.0x.
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"Much of the phase one deal has been priced in," said Bruce Yam, a Hong Kong-based forex strategist with brokerage Everbright Sun Hung Kai.
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China's foreign exchange regulator said the report could be based on erroneous information, adding that the country was diversifying its forex to safeguard their value.
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"Traders at exchange bureaus are holding on to their dollars as the price could go sharply higher the next day," one forex trader told Reuters.
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Forex lending is growing in nominal terms, the same data shows, but registered almost no growth last year in rouble terms because of the rouble's devaluation.
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Muhammet Mercan, ING's chief economist for Turkey, said authorities need to act with credible measures to restore confidence given the economy's large forex debt service requirement.
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Schlossberg, managing director of Forex strategy with BK Asset Management, said criticism that the Fed is behind the curve of next year's economic outlook is unfounded.
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Analysts said Sberbank's results were helped by around 20 billion roubles of earnings on forex operations as well as a steady increase in its interest income.
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BEIJING (Reuters) - China will fend off cross-border capital flow risks and continue to open up its foreign exchange market, the forex regulator said on Sunday.
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Cetinkaya said the forex "pass-through" - a measure of how sensitive prices are to changes in exchange rates - would depend on domestic demand and economic activity.
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"It is not each of these (factors) on their own, but coming together, they may have harmed foreign perceptions," said a forex trader at one bank.
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Deputy Chief Cabinet Secretary Hiroshige Seko also told a news conference that the government would refrain from commenting specifically on forex and long-term interest rates.
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The central bank said Monday's move would initially provide 5.4 billion lira ($943 million) and $2.9 billion equivalent of gold and forex liquidity to the market.
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"Such measures will not lead to well-balanced and sustainable growth over the long-term horizon," said Piotr Matys, an emerging markets forex strategist at Rabobank.
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ISTANBUL, Jan 19 (Reuters) - Turkey's central bank has allocated $300 million in a forex depo auction, it said on Thursday, after receiving bids of $327 million.
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"I've been bullish the dollar, but I think the bigger, long-term dollar rally is over," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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Elsewhere, the Australian dollar reached a six-week high of $0.6887 against the U.S. dollar, but otherwise the rest of the forex market was relatively quiet.
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Dealers at Citi noted interbank volumes in the forex market had been 35 percent below average overnight and another thin session was in prospect for Tuesday.
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"Retail sales seemed to have been boosted by higher prices rather than an increase in the real consumption," said Shin Kadota, senior forex strategist at Barclays.
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The central bank said earlier that the measure to set more capital aside for forex loans to companies was due to take effect from April 1.
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"We don't have a specific estimate (for forex share in banking assets) but we think that the bulk of loans should be in rubles," she said.
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Reserves were down to $2.521 billion at the end of 2015 from $2.699 billion at the beginning of last year mainly due to forex market interventions.
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For the January to April period, net forex sales stood at $20.1 billion, the State Administration of Foreign Exchange said in a statement on its website.
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"Markets are still feeling the reverberations of Yellen's dovish speech, with the U.S. dollar retreating across the board, " said Mizuho Bank's forex strategist, Chang Wei Liang.
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"It won't take long ... we're confident though it's a complex operation," Chairman Gian Maria Gros-Pietro said on the sidelines of the Assiom-Forex banking conference.
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Reserves were down to $2.5 billion at the end of 2015 from $2.7 billion at the beginning of last year mainly due to forex market interventions.
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Global forex markets were overshadowed by the continued decline in volatility, lending a boost to higher-yielding currencies such as the U.S. dollar and emerging markets.
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Last week, Nicola Duke, a technical analyst at analysis platform Forex Analytix, told CNBC that $2,800 could mark a level of resistance where bitcoin pulls back.
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"This suggests that policy measures introduced by Chinese officials last year are now bearing fruit," said Rodrigo Catril, a senior forex strategist at National Australia Bank.
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After steady gains non-banks' share of volumes has plateaued, they argue, while in the more lucrative forex swaps markets they have made very little headway.
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And Turkish people also feel worried about the continued devaluation of Lira; some exchange in Istanbul cancelled forex trading because of large fluctuations in exchange rate.
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"The focus in today's ECB meeting will be whether the bank changes its forward guidance around QE," said Kengo Suzuki, chief forex strategist at Mizuho Securities.
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The State Administration of Foreign Exchange would continue to crack down on illegal activity in the forex market, a notice posted on its microblog account said.
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LAGOS, Aug 22 (Reuters) - Nigeria's central bank sold dollars in the forex market on Monday, four hours after the market opened with no trades, traders said.
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The bank's gross forex reserves stood at $74.9 billion, while its net international reserves stood at $28.48 billion as of the same date, data also showed.
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"I think it could be the start of the end of the EU project," the head of a forex strategy at a European bank told CNBC.
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But Ulrich Leuchtmann, head of forex and emerging markets research at Commerzbank, said that Turkey would be "really hurt" if the U.S. enforces its sanctions globally.
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RISK RALLY Elsewhere in forex markets, a rebound in risk sentiment supported the Chinese yuan, Australian dollar, export-driven currencies across Asia and emerging market currencies.
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In a conference call to comment on results, BRF executives said forex volatility, higher grain prices and the fallout from the coronavirus could weigh on performance.
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If the price of Urals oil is higher than $25 per barrel then there will be no forex sales related to the Sberbank deal, it said.
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The banking and insurance transactions tax on all forex transactions, known in Turkey as BSMV, was set at 0.1% under a cabinet decision published in 1998.
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But any indication of further reduction of the BoJ's quantitative easing program would be positive for the yen, said James Chen, head of research at Forex.
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"More rate cuts are coming unless we reach a point where the market pushes back strongly against more," said Piotr Matys, EM forex strategist at Rabobank.
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The result is that the index has had just five such closings over the period, the lowest going back to 1972, or some 48 years, FOREX.
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The FMSB was set up following a recommendation from Britain's government and markets regulators to help clean up the currency markets after a forex rigging scandal.
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For the January to September period, net forex sales stood at $28.1 billion, the State Administration of Foreign Exchange said in a statement on its website.
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Orchard, who said he also knew Cook, set up other companies with "Euro Forex" in their names to help Cook's Asian clients rent offices, he said.
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Russia's largest banks and non-financial institutions have enough forex liquidity to pay off external debt in the second and third quarters of 2016, it added.
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With the market's current appetite for risk, the bonds are poised to continue their outperformance, Marc Chandler, chief market strategist at Bannockburn Global Forex, tells Axios.
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The BDDK on Wednesday cut the limit for Turkish banks' forex swap, spot and forward transactions with foreign banks to 25 percent of a bank's equity.
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It seems, however, that the market is not pricing a better Brexit agreement, but no Brexit at all, says Bannockburn Global Forex Chief Market Strategist Marc Chandler.
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DJI down 6463% - BONDS: Yields fell, with the 10-year US10YT=RR Treasury yield dropped below 1.75% to the lowest since November 2016 - FOREX: The dollar index .
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The take-up of funds by Italian banks at the ECB's second TLTRO2 operation could be meager, the president of Assiom Forex Massimiliano Sinagra said on Monday.
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"I expect a positive reaction from markets on both the rupee and equities," said Sajal Gupta, head of forex and rates at Indian brokerage firm Edelweiss Securities.
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That has prompted the central bank to intervene in the currency markets to support the yuan and crack down on forex trading it suspects to be speculative.
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"Its a red line because it's psychological and also because China previously seemed to defend it verbally," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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The reserves had dropped to $2.5 billion at the end of 2015 from $2.7 billion at the beginning of the year, mainly due to forex market interventions.
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He spoke as the currency hit a record low against the dollar and as the central bank made its third intervention on the forex market this year.
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"The market is essentially concerned that, as witnessed last year in August, diplomatic tension could escalate quite substantially," said Piotr Matys, emerging markets forex strategist at Rabobank.
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Its corporate and investment bank was a weak spot with revenue down 13.4 percent and net income falling 56.9 percent, impacted by a "strong negative forex effect".
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An agreement could prompt a flood of money back into the market on Monday, "a dramatic rally," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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Ghana's cedi is expected to remain firm against the dollar on increasing forex inflows underpinned by growing investor interest in the West African economy, an analyst said.
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"Pressure on Italy is mounting ... the doom loop, linking the banks to the sovereign, remains strong," said Marc C. Chandler, chief market strategist at Bannockburn Global Forex.
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Central bankers and the forex industry published a voluntary code of conduct in May in response to banks being fined billions of dollars for rigging currency benchmarks.
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Its 2015 investigation saw the commission join a global clampdown that saw big banks fined around $10 billion in total for rigging interest rates and forex benchmarks.
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"What everyone is interested in right now is whether the U.S. will enter a full rate-cut cycle," said Kyosuke Suzuki, director of forex at Societe Generale.
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For example, the Federal Reserve estimates that 60 percent of China's $3.5 trillion in forex reserves is held in U.S. dollar assets, like Treasurys or bank deposits.
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"A significant compression of UK yields and Brexit undertones" are why sterling dropped against the euro, said Kamal Sharma, forex strategist at Bank of America Merrill Lynch.
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Forex holdings of local individuals and institutions fell to $179.18 billion as of May 3, down 0/7 percent from the previous week, data showed on Thursday.
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But any correlation with the behaviour of traditional safe havens is likely more a short-term trend that an indication of anything longer-term, according to Forex.
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The BDDK said on Tuesday the forex purchases move, effective from Tuesday, aimed to prevent "unnecessary and unjust harm" to the market, particularly by high-frequency traders.
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Frustrated, Strake found her way to the Forex Peace Army forum, where she has become a leading lobbyist for action against NRGbinary and other high-pressure brokers.
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Taiwan's central bank said after its quarterly rate meeting that large, frequent foreign fund flows into and out of Taiwan have affected local forex and financial markets.
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Other options include the central bank providing forex currency to a 'clean bank' which in turn would then distribute it to peers via correspondent accounts, sources said.
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The central bank has injected $13 billion into the system in the past two months through open market operations and forex swaps, but the officials expect more.
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The country's top refiner on Friday said second-quarter profit fell 12.2 percent, missing estimates by a wide margin, as forex expenses and raw material costs weighed.
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The central bank suspended forex purchases for the finance ministry's reserves in September and until the end of the year to ease pressure on the battered rouble.
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AmEx's forex unit accounts for less than half of a percentage point of its total revenue and has a training, control and compliance oversight, the company said.
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According to data from Turkey's Capital Markets Association, the volume of leveraged transactions in the forex market was $2.96 trillion in the first nine months of 2016.
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Deputy governor Murat Uysal told Reuters the bank did not see forex liquidity problems, while Turkey's main business group warned economic relations would suffer from the disagreements.
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A senior U.S. Treasury official told reporters on Monday that the G-20 meeting in Shanghai would reiterate the importance of commitment to avoiding forex rate misalignments.
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"The impact on forex market is limited for now, mainly because many people are away on holidays." said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank.
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A broader erosion of confidence in the lira has led to an increase in locals' forex holdings, which surged in the six months leading up to April.
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"It is fairly obvious that inflation is going to accelerate in September, the question is by how much," said Piotr Matys, emerging market forex strategist at Rabobank.
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MOSCOW (Reuters) - Russia's central bank said on Friday there was no special time frame for forex market interventions carried out as part of a proposed budget rule.
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"No one really believes this is a firm step towards a deal" between the United States and China, said Neil Mellor, senior forex strategist at BNY Mellon.
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The bank said the measures, which when announced gave a bit of support to the Turkish lira, would withdraw $2.1 billion of forex liquidity from the market.
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It would not be easy, however, for China to shift the bulk of its commodity purchases to the yuan because of the currency's illiquidity in forex markets.
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The State Administration of Foreign Exchange (SAFE) this week said it would let foreign investors trade forex derivatives in its interbank bond market for the first time.
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The statement comes after the Indian stocks, forex and bonds market turned volatile on Friday on worries over weak balance sheets of India's non-banking finance companies.
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The UK Serious Fraud Office (SFO), meanwhile, dropped its own forex investigation in 2016, saying there was insufficient evidence for a realistic prospect of conviction of individuals.
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"Japanese retailer investors once again were caught on the wrong side of the trade being long Turkish lira," said Piotr Matys, emerging markets forex strategist at Rabobank.
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His parents are dead, his friends (if they exist) go unmentioned, and his employment consists of forex trading on an old laptop in his two-room apartment.
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While China still has the world's largest forex reserves, they have steadily declined over the last two years to $21.62 trillion, levels not seen since March 22.
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For a graphic on OTC foreign exchange turnover, click here London's grip on the bank trading business is encouraging more forex fintechs to expand in the city.
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For a graphic on OTC foreign exchange turnover, click here London's grip on the bank trading business is encouraging more forex fintechs to expand in the city.
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The fall in inflation has triggered speculation that the central bank will cut rates earlier than anticipated, said Piotr Matys, an emerging market forex strategist at Rabobank.
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"Perhaps the biggest worry is the potential unwinding of global central banks' vast quantitative easing stimulus programs in the coming months," said Fawad Razaqzada, Market Analyst, Forex.
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The renewed euro-dollar vol slump has taken a forex volatility index near record lows hit in April at 5.48% Low vol begets more of the same.
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Forex traders who look for economic and policy divergences to bet on are struggling to find persuasive reasons for betting on one currency moving much against another.
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Central bankers and the forex industry published a voluntary code of conduct in May in response to banks being fined billions of dollars for rigging currency benchmarks.
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It said total sales came in at 1.66 billion euros ($1.8 bln) last year, up 3 percent on a like-for-like basis and excluding forex swings.
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Travelex provides forex services for customers of HSBC , Barclays, Virgin Money and the banking arms of British retailers Tesco and Sainsbury through its automated order placement service.
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ISTANBUL (Reuters) - Turkey's BDDK banking watchdog on Friday said it would broaden limits on banks' forex swap transactions to include lira forward and option-type derivative transactions.
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"Mr Forex is hyper-sensitive to these bouts of self-doubt by Mr Bond, and the dollar has backed off a little on this Monday morning," they said.
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"As we foresee the industry's challenging environment persisting owing to currency volatility, the management will continue to look for avenues to mitigate forex risk via hedging," he said.
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The rise in the short-term rates was more of a market-driven adjustment, some forex traders said, adding that may "provide some support for the Chinese currency".
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Nigeria's forex buffer stood at $30.76 billion, up 54 percent from a year ago, but is still far off a peak of $64 billion hit in August 2008.
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"The bank is committed and is indeed working to achieve convergence in the forex rates between the interbank and the bureau de change segment," said spokesman Isaac Okorafor.
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The decree published in the Official Gazette allowed the day's lira rate to be used in companies' restructuring of forex loans as private sector debt continues to grow.
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Moneycorp said the Commonwealth acquisition would allow it to add small- and medium-sized U.S. customers by rolling out its specialist forex technology and platform through Commonwealth's network.
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"They (Greece) aren't willing to legislate measures," Athanasios Vamvakidis, global head of G10 forex strategy at Bank of America Merrill Lynch, told CNBC over the phone on Friday.
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Manageable Forex Risk: Modernland has fully hedged the principal of its USD240 million bond using call-spread options, covering rupiah depreciation of up to IDR15,000 per US dollar.
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India's forex reserves rose past $400 billion for the first time — at about $376 billion excluding gold, they are enough to pay for about a year of imports.
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MOSCOW, Nov 28 (Reuters) - Russian central bank governor Elvira Nabiullina said on Wednesday the situation with forex liquidity was comfortable and the bank did not expect any deficit.
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The central bank held another forex depo auction aimed at shoring up the currency, but investors are looking for a sharp rate hike when policymakers meet next week.
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"Merkel has been a stabilizing force for the euro zone throughout the last decade," Craig Erlam, senior market analyst at online forex broker Oanda, said in a note.
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"Foreign investors usually react instinctively to such themes and there hasn't been a visible response in currencies thus far," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
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"I would still say this is very precarious, and you are still getting the U.S. spin on things," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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"There shouldn't be too much change in Powell's initial stance, as to that of Janet Yellen," said James Hughes, chief market analyst, at forex broker AxiTrader in London.
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Wang said China will ensure safety of its forex reserves, reaffirming a pledge to improve the yuan regime as well as the flexibility of trading in the currency.
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"The deal is a good opportunity for the government to replenish its forex reserves, ease the debt burden and pursue long-term fiscal and macro reforms," HSBC said.
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Analysts expect forex reserves to increase further as the yuan has sharply rebounded against the U.S. dollar in recent weeks after the central bank declared war on speculators.
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The market took the inflation data as a sign that the central bank could cut rates earlier than expected, said Piotr Matys, emerging markets forex strategist at Rabobank.
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"A significant compression of UK (debt) yields and Brexit undertones" are why sterling dropped against the euro, said Kamal Sharma, forex strategist at Bank of America Merrill Lynch.
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Traders said the forex market is sufficiently liquid to support the local currency in spite of a surge in demand for dollars by people travelling on summer holidays.
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The naira has significantly firmed on the investor forex window, it was quoted at 365.13 by FMDQ the market regulator, better than 367 to the dollar last week.
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Spiking demand for dollars has been dragging the currency of the central Caucasus republic down, prompting an increasing number of banks to halt or substantially limit forex sales.
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"Markets are definitely viewing that court ruling as positive for the rand, more especially positive for the Ramaphosa campaign," said senior forex dealer at Standard Bank Oliver Alwar.
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Six out of 10 traders in China's money, forex and bond markets asked by Reuters said they believed China would move rates up if the Fed did so.
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Shohat Gurtler is a partner in the e-commerce department at Israeli law firm Herzog Fox & Neeman, which represents 10 of the larger binary option and forex brokers.
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"It is clearly aimed at mainland players, who make up 90 percent of gaming volumes, giving them a digital way to circumvent the country's forex controls," he said.
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"This is why a lot of people are speculating that China will be labeled as a currency manipulator," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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Firms were also offering leverage of up to 2000 to 1 in rolling spot forex or CFDs, a large bet on the back of a tiny initial outlay.
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However, about 10 banks have improved their hedging products, adding more derivative products, such as forex call spread options, interest rate swaps and cross currency swaps, he said.
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"You could argue that the worse the numbers are the more incentive it provides to resolve the dispute," Ray Attrill, forex strategist at National Australia Bank, told Reuters.
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He did not specify what size tranche he expected but said it would help the central bank raise its forex reserves to $19.2 billion from $17.8 billion now.
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Nigeria's forex buffer stood at $30.36 billion, up 57 percent from a year ago, but is still far off a peak of $64 billion hit in August 2008.
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BEIJING, Feb 27 (Reuters) - China's foreign exchange regulator said on Monday it would allow foreign investors in the interbank bond market to trade forwards, forex swaps and options.
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"Equities gained as Powell hinted of implementing fewer rate hikes when the economy is still doing well," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
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That has prompted the central bank to intervene in the currency markets to support the yuan and crack down on forex trading which it suspects to be speculative.
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With low crude prices causing the OPEC member state's revenues to plummet, the central bank imposed forex controls last year to prevent a collapse of the naira currency.
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But the governor reiterated that Congo's forex reserves were down to just three weeks of import cover in the latest available data, from July, or $706 million dollars.
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"Merkel has been a stabilising force for the euro zone throughout the last decade," Craig Erlam, senior market analyst at online forex broker Oanda, said in a note.
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"The next head of the Fed is a longer-term focus for the forex markets," said Keiko Ninomiya, senior FX market analyst at SMBC Trust Bank in Tokyo.
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"The pound's short-term fate depends almost exclusively on polls, whereas the currency is still comparatively undervalued," said Marc-André Fongern, G10 FX analyst at MAF Global Forex.
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Turkish authorities have recently taken a series of steps to the support the lira, such as imposing a one-day settlement on some purchases of forex by individuals.
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The Bank of England said this week that non-bank non-dealer financial firms took a 39 percent share of April's $751 billion in London spot forex volumes.
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Ken Cheung, senior Asian forex strategist at Mizuho Bank Ltd in Hong Kong, also said the rise was surprising, and characterized the five basis point magnitude as "mild".
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Google also said on Wednesday it would stop ads for financial products like binary options and synonymous products, contracts for difference, rolling spot forex and financial spread betting.
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China has been diversifying its forex reserves investments and its investments in U.S. Treasuries is market-driven, the State Administration of Foreign Exchange (SAFE) said on its website.
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Piotr Matys, emerging markets forex strategist at Rabobank, said the "modest" reduction in inflation forecasts and the "reassurance" of a continued tight stance would help settle market concerns.
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Meanwhile Zhou also called for further financial deregulation, saying China will relax management of its forex market, promote yuan internationalization and broaden market access by foreign financial institutions.
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"The market is experiencing a lull in absence of fresh factors and dollar/yen appears to be holding out well," Societe Generale director of forex, Kyosuke Suzuki, said.
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Ken Cheung, senior Asian forex strategist at Mizuho Bank Ltd in Hong Kong, also said the rise was surprising, and characterised the five basis point magnitude as "mild".
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"Stronger than expected UK CPI inflation data this morning has a modest impact on the short end of the curve," said Jane Foley, senior forex strategist at Rabobank.
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China's forex regulator has also widened the quotas of two other outbound investment schemes in Shanghai and Shenzhen as part of the government's efforts to liberalize financial markets.
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The total level of capital outflows is greater than the difference between resident and non-resident flows because of forex reserves and net errors and omissions, IIF said.
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Milan, Assiom Forex starts XVII PANEuropean Banking Meeting's conference on "Action Plan 2019 for a sustainable and responsible union of capital markets" (1003 GMT); ends on Oct. 12.
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"It could be controversial, but not at this meeting … The market is focused on inflation and the inflation target," Bannockburn Global Forex chief market strategist Marc Chandler said.
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"By this measure, US stocks haven't seen this consistent of a rally since most of us have been alive," Matt Weller, global head of market research at FOREX.
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Starting on March 5, TradeStation Technologies will offer IBFX customers who move to OANDA subscriptions for a real-time TradeStation FX platform integrated with OANDA's forex price feed.
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In a bid to reduce market lending rates, the bank has been reducing the stock of its three-month deposits and pumped liquidity into markets via forex swaps.
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Milan, Assiom Forex starts XVII PANEuropean Banking Meeting's conference on "Action Plan 2019 for a sustainable and responsible union of capital markets" (09003 GMT); ends on Oct. 12.
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He says now he was only a "consultant CEO" of the UK-registered company Euro Forex Investment Ltd, and that he had used the "EuroFX" name for short.
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Satellite communications company Inmarsat also fell 1.9 percent on a price target cut from Citigroup, which cited higher investment and lower growth as offsetting the beneficial impact of forex.
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After banks paid $10bn in fines to US and UK authorities, they complained that spot forex was not included at the time within the UK's criminal market-abuse regime.
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Forex and Project Concentration Risk: Jababeka's rating is constrained by its highly concentrated business in Cikarang, which Fitch expects to contribute around 70% of presales over the medium term.
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The forex regulator said on Wednesday that China would improve macro-prudential management on cross-border flows to ward off potential risks and "optimise" diversification of foreign exchange reserves.
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Agency Trading, Vertical Integration: More than 70% of Tewoo's trading business is agency trading, which has lower risk as it is passes on pricing and forex risks to counterparties.
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Analysts said such large moves in two of the traditionally higher-yielding major currencies had jolted forex markets, and encouraged a move into the perceived safety of the yen.
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"Forex reserves are likely to fall again in January," China's SWS MU Fund Management said in a note, predicting the U.S. economy and the dollar would continue to strengthen.
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Analysts expect that bank tax, which came into effect this quarter, may limit lending growth, while presidential proposal to convert forex loans might weaken banks and the Polish currency.
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Unwinding short funding positions appears to be offsetting the impact of a dovish BOJ statement, Marc Chandler, chief market strategist at Bannockburn Global Forex LLC, said in a note.
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Yet, retail forex trading in China each day averaged about $31 billion in 2016, accounting for 6-7 percent of the global market, highlighting the huge potential for growth.
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Economists have been concerned about the central bank's ability to protect the lira against another sharp decline, given that the bank's forex reserves have decreased significantly in recent months.
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In a conference call with investors, Albayrak said Turkey had already taken measures to curb forex funding and corporates are in a comfortable position to meet short-term liabilities.
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SPX hold gains, last up 0.85% BONDS: U.S. Treasury 2-year note yield US2YT=RR rises to 1.5610%; 10s US10YT=RR rise to 1.5740% FOREX: The U.S. dollar index .
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"We've been short sterling/Japanese yen for three months and we are considering to reduce (the short) now," said Vasileios Gkionakis, global head of forex strategy at Lombard Odier.
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The forex regulator said on Wednesday that China would improve macro-prudential management on cross-border flows to ward off potential risks and "optimize" diversification of foreign exchange reserves.
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New York Forex Institute Training & Certification Course See Details Love it or hate it, Facebook is one of the most powerful tools of the modern era, digital or otherwise.
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Worse yet is that neither sovereign wealth funds nor forex reserves are subject to any disclosure requirements, so we know very little about the specific risks that they pose.
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The forex problems are the first indication Wells Fargo's issues may extend to its institutional businesses, which according to Wells Fargo have seen relatively little impact from the scandal.
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UBS Wealth Management forex strategist Daniel Trum said U.S. interest rates were still among the highest in the developed world even as markets price in Fed interest rate cuts.
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"The (RBA) still seems confident that steady rates are warranted given the tightening jobs market and they are not jumping at shadows," said Sean Callow, forex strategist at Westpac.
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VTB, Russia's second biggest bank by assets, has already said it plans to use some of its spare forex to buy out some of its outstanding Eurobonds this year.
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It is not surprising that the package comes ahead of the re-run of Istanbul mayoral elections on June 23, said Piotr Matys, emerging markets forex strategist at Rabobank.
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China's forex regulator last month also widened the quotas of two other outbound investment schemes in Shanghai and Shenzhen as part of the government's efforts to liberalize financial markets.
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"We see the upcoming Japanese forex liquidity drought as offering danger for corporates, but perhaps opportunity for speculative accounts," said Sean Callow, the Sydney-based currency strategist at Westpac.
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"Aided by forex and markets such as the United States starting to stabilize, we are now getting back on the growth mode," said Nilesh Gupta, managing director, Lupin Ltd.
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The contest between Johnson and Hunt "has transformed into an arms race of who is a bigger Brexiteer," said Vasileios Gkionakis, global head of forex strategy at Lombard Odier.
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Satellite communications company Inmarsat also fell 1.8 percent on a price target cut from Citigroup, which cited higher investment and lower growth as offsetting the beneficial impact of forex.
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Leaders, including the International Monetary Fund's managing director Christine Lagarde, had criticized the lack of clarity China offered on its forex strategy as a source of unnecessary market turbulence.
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But he said China's move to change forex mechanism was not an attempt to devalue the yuan to support its exports but an important part of its reform process.
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Godwin Emefiele also told reporters the bank would "from time to time" intervene in the forex market to ensure the (official) exchange rate did not go beyond its expectations.
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But the caps exacerbated the forex shortage, undermined the confidence of foreign investors who could no longer repatriate their earnings and made it harder to clear imports at ports.
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The dollar and U.S. stocks would face downward risks if trouble for the Trump administration becomes a long-term concern, said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
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It cited improvement in the current account balance, increase in forex reserves, falling inflation and continuing growth, and added that the lira had held up despite interest rate cuts.
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"The tailwind (from forex) we had in 2015 is no longer there, at least for this first quarter," Chief Financial and Corporate Officer Enrico Cavatorta told an analyst call.
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The ESMA said it has been concerned about products including contracts-for-difference (CFDs), rolling spot forex, and binary options for retail investors for a considerable period of time.
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In June, Marc Chandler of Bannockburn Global Forex told CNBC he's also bullish on gold prices in part because lower interest rates will soon drag the U.S. dollar lower.
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Yellen may try to prepare markets for the possibility of another Fed rate hike later this year, said Tan Teck Leng, forex analyst at UBS Wealth Management in Singapore.
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The central bank said on Monday it had raised the reserve requirement ratios for forex deposits and participation funds by 200 basis points for all maturities to support stability.
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"The trend of the dollar is bearish for gold but as we start the new quarter we are seeing some dollar profit-taking and that is boosting gold," Forex.
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Analysts said such large moves into two of the traditionally higher-yielding major currencies had jolted forex markets, and encouraged a move into the perceived safety of the yen.
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Nigeria's interbank forex market traded $540,000 in early deals at 375 naira per dollar, near a record low exchange rate hit last November, Thomson Reuters data showed on Monday.
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"Any outcome significantly lower than forecast should further dampen Fed expectations and potentially lead to an extended pullback for the dollar," said James Chen, head of research at Forex.
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"Theresa May's Brussels success comes laden with some potentially deal-sinking domestic caveats, namely the House of Commons' 'meaningful vote' expected to be held on 12th December," said Forex.
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"Our current trading app allows users to trade in CFDs on stocks, indices, forex and other financial products for the short term with limited leverage," explains the Bux CEO.
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The Financial Conduct Authority published on Tuesday a "Dear CEO" letter sent to firms selling so-called "contracts for difference" (CFDs) such as spread bets and "rolling spot" forex.
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"Up to now, the slowdown in Germany has been concentrated in the manufacturing sector," Daria Parkhomenko, forex strategy associate at RBC Capital Markets, wrote in a note to clients.
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One trader said the series of steps would diminish the central bank's already depleted reserves, starting with $5 billion cut from its gross reserves due to the forex measure.
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Volatility has doubled in forex markets in the space of a few weeks, but has not been as pronounced in currency markets as it has in equities and bonds.
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"All preferential policies regarding forex purchases have been canceled," said one of the sources, who declined to be identified by name because she was not authorized to speak publicly.
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China's foreign exchange regulator said in a statement on its website that it would keep the nation's forex reserves and international balance of payments "balanced and stable" in 2018.
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Questions over its forex reserves roiled markets in the spring after a report that short-term borrowed money - or swaps - had become a substantial part of Ankara's war chest.
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Deutsche Bank's forex strategist George Saravelos said he is "turning more optimistic on Brexit" and no longer negative on the pound, as a result of the Irish leaders' comments.
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China's central bank has already allowed some foreign institutions to participate in the onshore interbank forex market, where they may trade spot products, forwards, swaps, FX swaps and options.
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Simon Harvey, a forex market analyst for Monex Europe and Monex Canada, said economic data was unlikely to be the dollar's main driver, unless there was a substantial downturn.
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"The fact that concerns eased a bit this week weighed on the dollar a bit but that has reversed and so that is why gold is easing," said FOREX.
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"Commodity and emerging market currencies are likely to remain firm if persisting dollar weakness supports global commodity prices," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
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Alan Ruskin, head of G10 forex at Deutsche, noted the top five PMIs were all Northern European economies and every index in Europe was in expansionary territory above 50.
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"The dollar lost some traction as equity markets sank following the latest media report on U.S. trade policy," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
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"There is no great urgency for the Fed to act, and surely not by the half a percentage point move," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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" RAY ATTRILL, HEAD OF FOREX STRATEGY, NATIONAL AUSTRALIA BANK, SYDNEY: "The CNH market decided to test the 7 level early on, but the CNY fixing didn't offer any strong protest.
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Piotr Matys, emerging markets forex strategist at Rabobank, said Cetinkaya's comments indicate the central bank realized it was a mistake last week to remove its firm commitment to raise rates.
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Speaking at the annual Assiom-Forex conference, Visco said the ECB's governing council remained convinced of the need to keep the current expansionary stance for an extended period of time.
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"When liquidity returns to the market, participants will be able to express their sentiment towards the lira in an unconstrained way," said Piotr Matys, emerging market forex strategist at Rabobank.
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"(PBOC) has been keeping (USDCNY fixing) artificially low, to persuade people from trying (to short the yuan)," said a Hong Kong-based head of forex trading at an international bank.
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In Shanghai last month, Australian firm Cardiff Global Markets pitched its "1,27 people, 21980,2400 cities" vision, a plan to sign up a million clients to its offshore forex trading platform.
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Given the fluid developments in the U.K., Vishnu Varathan, senior economist at Mizuho Bank wrote in a note Monday that there may be further volatility ahead in the forex market.
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In the fourth quarter the cedi is expected to remain fairly stable "as forex liquidity improves on the back of inflows from cocoa loans," said currency analyst Joseph Biggles Amponsah.
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"The key difference between India and other Asians is the pace of fall in the currency and shallow intervention," said Sajal Gupta, head of rates and forex at Edelweiss Securities.
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The decline in the lira, which lost nearly 30 percent last year, has also sapped confidence among locals, prompting their forex holdings to surge in the six months to April.
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Naeem Aslam, chief market analyst at retail broker Think Forex, said he was in the office from Thursday morning until the final result came through and was greeted with stupefaction.
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"While the comeback in equities has stopped the recent decline in Treasury yields, focus remains on U.S. tax reforms," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
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Analysts had expected a slowdown in sales growth due to a strong year-ago performance and an erosion of forex-driven price increases which had boosted its Latin America business.
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Services PMI just stayed around 50, coming in below-forecast The data "underpins the type of concerns that (Mark) Carney is projecting," said Jane Foley, senior forex strategist at Rabobank.
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Ghana's cedi could be on the ropes as seasonal forex demand by firms exerts pressure until a planned central bank foreign exchange auction on the interbank market in mid-November.
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"Speculators have been adding to their short positions every week since the UK voted to leave the EU - clearly, the pound has been becoming a one-sided trade," said Forex.
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"We have been of the view that the risk on the euro/dollar is still on the upside," said Tan Teck Leng, forex analyst for UBS Wealth Management in Singapore.
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The insurance unit's forex losses were T$18 billion ($595 million) in the six months to June, while Fubon Financial's net profit was T$18.7 billion during the same period.
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After the talks, the market will increasingly focus on China's slowing economic growth, pressuring the yuan, said Bruce Yam, a forex strategist at Everbright Sun Hung Kai in Hong Kong.
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"We have seen a surprising succession of positive indicators emerge after excessive pessimism towards the economy dominated the markets through March," said Mitsuo Imaizumi, chief forex strategist at Daiwa Securities.
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"Hopes for a trade resolution have further boosted stock prices, but their gains now look too stretched," said Makoto Noji, chief forex and foreign bond strategist at SMBC Nikko Securities.
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LONDON (Reuters) - Fake news that Napoleon had died is cited in new analysis aimed at helping commodity, bond and forex traders to stop fraud, an industry body said on Friday.
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In September the bank cut its overnight deposit rate by 10 basis points to -0.15 percent, and since then it has increased liquidity in forint markets via forex swap tenders.
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JOHANNESBURG, Feb 20 (Reuters) - South Africa's Competition Commission has reached an agreement with Citibank N.A. for its role in a forex trading cartel, the anti-trust watchdog said on Monday.
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Bruce Yam, a forex strategist at Everbright Sun Hung Kai, expects downward pressure on the yuan to persist until China and the United States formally commit to removing existing tariffs.
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Cemil Ertem told state broadcaster TRT Haber that exchange rates can be one factor in monetary policy but the central bank does not determine policies solely looking at forex rates.
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State-owned banks sold dollars in the forex market regularly in late 2015 and 2016 in what some traders believed was part of official efforts to prop up the yuan.
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In Shanghai last month, Australian firm Cardiff Global Markets pitched its "26,27 people, 21980,2400 cities" vision, a plan to sign up a million clients to its offshore forex trading platform.
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MEXICO CITY, May 5 (Reuters) - Mexico's central bank on Friday said it sold all of $200 million on offer in an auction of forex hedges that expire in 62 days.
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SAFE also said a media report about it telling banks to keep its instructions secret was "inaccurate, and is misleading public opinion and disturbing normal operations of the Forex market".
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When investors adjust for hedging their forex exposure, the bank said, higher yields on U.S. debt are no longer enough to trump the potential returns on the euro zone benchmark.
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But economists said Monday's devaluation was not enough to win back investors' trust and called for the central bank to end its forex auctions and return to the interbank system.
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"There is relief that the summit ended without confrontation, and that the joint statement did not directly touch upon currency issues," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
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New Delhi is also open to issuing Non-Resident India (NRI) bonds or opening a forex swap window for oil marketing companies, to stem rupee's fall if it became unreasonable.
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Piotr Matys, emerging markets forex strategist at Rabobank, said that even considering tapping into the central bank's reserves stoked such concerns, adding its damage on the lira had been done.
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Shares at Poland's lenders with the biggest exposure to forex loans, such as PKO BP, BZ WBK, mBank , Millennium, Getin, BPH have fallen this year by 13.5 percent on average.
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But the pace of China's outbound M&A activity could slow in the second half, as Beijing took measures to control forex outflows to ease the pressure on its currency.
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"Absolutely no one trusts or believes that this central bank is still able to fix this," he said, describing the forex policy sarcastically as a "masterstroke" that destroyed the economy.
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The IMF said that if Nigeria did not remove foreign exchange restrictions and unify the exchange rates, it risked "further deterioration in (forex) reserves" and "a disorderly exchange rate depreciation".
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"Japan should not give up the right to intervene in the forex market in extreme situations, namely when the yen rises sharply," said Hamada, a special adviser to the Cabinet.
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Ankara has already taken several steps to discourage Turks from turning to forex deposits, such as this month raising a tax on some foreign exchange sales to 0.1%, from zero.
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"The key question is whether the central bank will continue its rate hiking cycle in March or postpone it until June or later," said Fawad Razaqzada, technical analyst for Forex.
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"The key takeaway is that the engine of the eurozone economy, Germany, may still be struggling," Marc C. Chandler, chief market strategist at Bannockburn Global Forex wrote in a note.
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"The market is unwinding an overly pessimistic view on U.S. rates, which is the reason that the dollar has bottomed, overall," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
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The dollar index fell 0.2 percent against a basket of major currencies, however, with strategists saying forex traders had adopted more of a wait-and-see attitude to the bill.
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The central bank has rolled out a series of measures since last week - culminating in the introduction of forex swap auctions on Wednesday - in an effort to support the currency.
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Ray Attrill, head of forex strategy at National Australia Bank in Sydney, said Monday's figures, on the back of credit data on Friday, showed China's stimulus program is gaining traction.
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State-owned banks sold dollars in the forex market regularly in late 2015 and 2016 in what some traders believed was part of official efforts to support the Chinese currency.
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Russia's central bank also said it would revise the decision on forex buying depending on the market situation, while it stood ready to deploy additional tools to preserve market stability.
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"In the last two years, we've had requests for almost 30 investigations, mostly binary options but also some forex companies," Hauser said, referring to online trading platforms for foreign currencies.
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BEIJING (Reuters) - China will establish direct trading pair between the yuan and South Korean won in interbank forex market, the People's Bank of China said in a statement on Friday.
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Without one-off and non-operating items, which include about 6 billion rand in forex losses, MTN would have managed a profit, albeit 14 percent lower than 2016's earnings.
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"We put his name forward as someone who had forex expertise who could help" by managing a London office, Orchard said, but could not remember whom he recommended Byrne to.
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The corporate trail leads to a clutch of other "Euro Forex" companies in Britain and New Zealand, held in the names of company formation agents, nominee directors, or offshore shareholders.
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Debt servicing costs were also up, but high debt levels were in particular complicating the economic outlook for six nations, including Zimbabwe, which is gripped by a crunch forex shortage.
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If it rules against the government it would increase political uncertainty in the country and "weigh on sterling a little," said Jeremy Stretch, head of G10 forex strategy at CIBC.
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Prior to the latest move, the central bank had stepped up forex sales to the country's 5,000 retail currency operators, selling around $20,000 almost daily to shore up the naira.
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The comments by Powell and Bullard have assisted in "enabling the dollar to find some much-needed support and undermining buck-denominated precious metals," Fawad Razaqzada, market analyst with Forex.
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Services PMI just stayed around 50, coming in below-forecast The data "underpins the type of concerns that (Mark) Carney is projecting," said Jane Foley, senior forex strategist at Rabobank.
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Reuters analysis shows forex trading volumes in Britain had grown by 23 percent to a record daily average of $2.7 trillion (2.1 trillion pounds) in April compared to April 2016.
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Citigroup was one of seven banks to be fined a combined US$10bn for failing to stop traders manipulating the US$5.3trn-a-day forex market between 2008 and October 2013.
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"It was largely the consideration of low wage growth that put a significant damper on the outlook for near-future Fed rate hikes," said James Chen, head of research at Forex.
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The central bank said late in August that the higher dollar demand is seasonal, with firms needing to repay forex debt, and has pledged to support Azeri banks and the manat.
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"The dollar could suffer a sudden fall, with the Dow possibly falling any time now following days of successive record highs," said Junichi Ishikawa, forex analyst at IG Securities in Tokyo.
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MOSCOW, Nov 24 (Reuters) - Russia's central bank declined comment on the possible effects of a new bond programme by Rosneft on the country's money and forex markets when contacted by Reuters.
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"WPP's first-half results are encouragingly strong with a decent beat on an underlying basis amplified by beneficial forex moves," said Citi analysts, who have a buy rating on the stock.
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But that has changed - forex dealers said that a swathe of options were bought on Thursday giving holders the right to sell euros for $1.1000, including one for 500 million euros.
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"The significant slide in G3 bond yields, occurring in a context of modest financial volatility, is supportive of capital flows into Asia," said Chang Wei Liang, forex strategist at Mizuho Bank.
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London has been the top forex trading hub with nearly 41 percent of the market share, or $2.2 trillion, and more than double New York's market share of about $1 trillion.
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Stephen Gallo, a forex strategist at BMO Capital Markets, told CNBC that currency traders have been betting heavily against the pound recently and Merkel's comments hint at an attempt to compromise.
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"There are no reasons in favour of making Europe the only place in the world to give up a liquid and risk-free asset," Gualtieri told the annual Assiom-Forex conference.
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"The Trump-Xi meeting holds the potential to rock markets, depending on how much the outcome deviates from market expectations," said Han Tan, market analyst at online forex trading broker FXTM.
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In May the European Union fined five banks a combined 1.07 billion euros ($1.19 billion) for forex rigging through cartels of traders known as "Essex Express" and "Three Way Banana Split".
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In May, the European Union fined five banks a combined 1.07 billion euros ($1.19 billion) for forex rigging through cartels of traders known as "Essex Express" and "Three Way Banana Split".
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"Any markedly weaker-than-expected inflation readings this week could lead to a boost for stocks and further pressure on the struggling dollar," said James Chen, head of research at Forex.
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The central bank's net international reserves fell to $25.84 billion in dollar terms as of May 3, data showed on Thursday, while the its gross forex reserves stood at $72.63 billion.
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Local investors have also lost confidence after last year's crisis, which caused forex deposits and funds including precious metals of local individuals to rise steadily in the six months to April.
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"The deal is still not done but we are working hard on it," Banco Popolare's chief executive, Pier Francesco Saviotti, told reporters at the Assiom Forex industry association conference in Turin.
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INDIA: LOW OIL PRICES, FOREX WORRY PULL SUBINDEX TO 269 VS 263 Seventeen of 63 Indian firms expressed optimism for the coming half-year whereas five were neutral and three pessimistic.
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"The latest headlines from Trump are pushing investors to risk-off-mode," said Shintaro Ikeshima, chief manager of forex and financial products trading division at Mitsubishi UFJ Trust and Banking Corp.
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Under the new system, forex trading will be carried out at trading auctions where a weighted average of offers from the central bank and commercial banks will set the exchange rate.
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"The latest headlines from Trump are pushing investors to risk-off mode," said Shintaro Ikeshima, chief manager of forex and financial products trading division at Mitsubishi UFJ Trust and Banking Corp.
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"What China represents is a major deflationary force, not only for world growth but for Dr. Copper and commodities in general," said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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Kazushige Kaida, head of forex at State Street Global Markets in Tokyo, said he believes the current market consensus is that the two leaders are "unlikely to agree on a deal".
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The RBI could instead announce a raft of measures including another round of forex swaps soon to inject liquidity into the market, as part of "nuanced" attempts to handle the issue.
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However, volatility has been stuck near multi-year lows as central banks appeared to turn dovish in tandem, removing the policy divergences that investors betting on forex markets like to see.
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"The talk regarding military and infrastructure spending raised expectations towards Trump's speech to the Congress later today, lifting the dollar and Treasury yields," said Shin Kadota, senior forex strategist at Barclays.
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"The weak Philly Fed index reinforced fears that President Trump's trade war would hurt the U.S. economic outlook and worsened the mood," said Kengo Suzuki, chief forex strategist at Mizuho Securities.
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"A factor which could guide stocks lower this week are tweets by U.S. President Donald Trump pertaining to trade issues with China," said Junichi Ishikawa, senior forex strategist at IG Securities.
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Veerathai: We see further expansion of monetary policies by other central banks, and developments in financial markets in many parts of the world will contribute to the fluctuation of forex rates.
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Commercial banks on Thursday quoted the Shilling at 2,12.5703/2,304 slightly up from 2,295/2,305, a Senior Forex trader from one of the commercial banks in Dar es Salaam told Reuters.
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China began reporting the data early last year, following speculation the central bank was using currency swaps and other derivatives to intervene in offshore forex markets to prop up the yuan.
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China has tightened rules on moving capital outside the country since late last year as it scrambled to support the yuan CNY=CFXS> and stem a slide in its forex reserves.
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They also told the banks to interview clients to make sure the forex deals were not for fake transactions, or else face punishment, according to two bankers at separate listed banks.
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By its own admission, Quinn Emanuel is encouraging multinational institutions with big forex damages to seek a "global solution" instead of risking the release of claims in the U.S. class action.
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"It is becoming clear that the Trump administration is one that will pursue a weaker dollar and criticise the currency policies of others," said Shin Kadota, senior forex strategist at Barclays.
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"Gold went up on the back of the Catalonia independence, but I still think it's not going to last long because the dollar is still trading at high levels," said FOREX.
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China will also safeguard and increase the value of the country's forex reserves in the second half of this year, said The State Administration of Foreign Exchange, following a internal meeting.
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But that has changed - forex dealers said that a swathe of options were bought on Thursday giving holders the right to sell euros at $1.1000, including one for 500 million euros.
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"The new week started positively for the US dollar and equity markets overnight, causing the buck-denominated gold to fall further out of favor," said Fawad Razaqzada, technical analyst for Forex.
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But regulations introduced after the 2008-09 financial crisis have curbed some bank activity, while the majority of forex is now processed on ultra-fast electronic platforms rather than the telephone.
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Earlier this week, China's forex regulator said it widened the quotas of two other outbound investment schemes in Shanghai and Shenzhen as part of the government's efforts to liberalize financial markets.
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The central bank was ready to sell $200 million on the forex market on Monday to support the ailing manat currency but local banks bought less than this amount, he said.
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"The objective of the new forex sale policy was to ensure a convergence of the rates on the interbank (market) and BDC (bureaus de change)," central bank spokesman Isaac Okorafor said.
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Production had stopped "as we are waiting for the imported items for which there is a forex issue," chairman Innocent Chukwuma said at the firm's plant at Nnewi, in southern Nigeria.
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The level of forex reserves will remain "balanced and stable" in the future, the State Administration of Foreign Exchange said on its website, while cross-border capital flows will remain "steady".
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Alan Ruskin, head of G10 forex at Deutsche Bank, noted the top five PMIs were all Northern European economies and every index in Europe was now in expansionary territory above 50.
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"Our base case is that the new Fed chair appointee will not be an aggressive hawk," Stephen Gallo, European head of forex strategy at Bank of Montreal, told CNBC via email.
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Commercial banks on Thursday quoted the Shilling at 2,294/2,304 slightly up from 2,295/2,305, a Senior Forex trader from one of the commercial banks in Dar es Salaam told Reuters.
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Refinitiv, which runs another large forex platform and is yet to report its April numbers, has reported a small decline in volumes between January and March of this year versus 2018.
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Sources said the forex regulator told banks about the new rules on Monday, the same day the government said it would stick to its "going out" strategy of encouraging outbound investment.
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The dollar will take its cue from the Fed's forward guidance and whether there are any noticeable changes in the "dot plots", according to Fawad Razaqzada, a market analyst at FOREX.
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The plan to raise it again will not include lenders' forex purchases, the sources said, with one adding that it would ultimately give President Tayyip Erdogan leeway to raise it more.
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"For any chance of the dollar bouncing back in the near term, it will need a rebound in U.S. yields," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
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State-owned banks have sold dollars in the forex market regularly since late last year in what some traders believe is part of official efforts to prop up the Chinese currency.
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BEIJING (Reuters) - China's forex regulator said on Tuesday it widened the quotas of two outbound investment schemes in Shanghai and Shenzhen as part of the government's efforts to liberalize financial markets.
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Analysts at Rosbank said that activity on the forex market was falling ahead of meetings of the U.S. Federal Reserve, the Bank of Japan and the Bank of Russia this week.
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"It's very thin liquidity here and the big move is really off of what's happened in the Middle East," said Jan Sluis-Cremer, a senior forex trader at Rand Merchant Bank.
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"I believe market pessimism, particularly towards the U.S. economy, that took hold at the start of the year was exaggerated," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
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"The catalyst behind the dollar's slide was reports that put Trump ahead of Clinton in the battleground state of Florida," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
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The central bank said the bonds aren't yet counted as part of the official forex reserves because according to International Monetary Fund classifications the Chinese yuan is not a reserve currency.
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"Political events like the UK election and Comey's testimony are over and the focus this week shifts to monetary policy," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.
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Overnight in Asia, Sean Callow, a forex strategist at Westpac, had said the market reaction had been "as though the four horsemen of the apocalypse just rode out of Trump Tower".
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"It's critically important for us that we have good connectivity across the three financial centers, Europe, U.S. and Asia," Kristen Macleod, managing director of Barclays' forex sales business in New York, said.
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Central bank adviser Fan Gong said the decline in forex reserves was good news in the long-run, adding that the yuan had been overvalued for the last three or four years.
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Despite the downturn by stocks, worries about corporate earnings growth and doubts about the global economy, forex investors only tiptoed into the yen and Swiss franc, two currencies historically bought during downturns.
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"There have been some movements in reserves, but dollar holdings have never been larger," because total reserves in the world have grown, said Marc Chandler, chief market strategist at Bannockburn Global Forex.
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When they want to move that revenue back to their HQ, they simply do so through the Airwallex system, which uses inter-bank exchanges to trade forex at a mid-market rate.
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The country's forex reserves have shrunk by almost a $1 trillion since June 2014 as the central bank has sought to prevent a large fall in the yuan against the U.S. dollar.
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The State Administration of Foreign Exchange (SAFE) added that with the economy expected to maintain reasonable growth and improved flexibility in the yuan exchange rate, the country's forex reserves will remain stable.
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China started to report the data early last year, following speculation the central bank was using currency swaps and other derivatives to intervene in offshore forex markets to prop up the yuan.
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The main reason China's forex reserves fell in 2016 was because the central bank used them to stabilise the yuan, the country's foreign exchange regulator said in a statement after the data.
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Shi opened accounts at several offshore forex trading platforms, transferred $50,000 to each account via third-party payment companies, and has traded on a leverage of between 100-400 times his capital.
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"It's critically important for us that we have good connectivity across the three financial centres, Europe, U.S. and Asia," Kristen Macleod, managing director of Barclays' forex sales business in New York, said.
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"I think we will get a lot more...headlines in coming weeks and months, especially as the investigations takes place," said Tan Teck Leng, forex analyst for UBS Wealth Management in Singapore.
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They raise minimum capital for forex bureaus by three-fold, to 1 billion Tanzanian shillings, and require bureaus to maintain working capital of at least 75 percent of the paid up capital.
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The uncertainty has also led to volatility and fluctuations in the forex and equity markets which means investors need to be very smart when putting their money into these forms of investments.
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"By not coming out and promising more cuts in the future, the market appears to have interpreted this policy move as hawkish," said John Velis, forex and macro strategist at BNY Mellon.
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A Reuters poll of forex strategists indicated last week that the pound would sink 9 percent against the dollar if Britain quit the EU, boosting the price of gold in sterling terms.
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But the FSB has not considered the need for more transparency of sovereign wealth funds or forex reserves, despite their G-20 mandate to identify and mitigate risks to the financial system.
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Other policymakers at the March meeting also expressed concerns on the wide margin between official interbank forex market rate and the parallel market, noting that this provides an opportunity for currency arbitrating.
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BEIJING (Reuters) - China will step up its crackdown on illegal foreign exchange deals this year as authorities boost authenticity and compliance checks on trade and investment, its forex regulator said on Wednesday.
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The Turkish lira also steadied after weakening almost 215.58 percent against the dollar on Wednesday, with the central bank opening a $21349 million forex depot auction aimed at shoring up the currency.
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CEE Romanian money RO-M Romanian debt RO-D Eastern Europe EEU All emerging markets EMRG Hot stocks HOT Stock markets STX Market debt news DBT Forex news FRX ——————————————————————————————— ($1 = 4.0549 lei)
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It has already popped the lid and funded a portfolio of five so far: blockchain startup Otonomos, financing firm Capital Match, forex-focused 4XLabs, trading platform Spark Systems and marketing service WeConvene.
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Forex woes With imports adversely affected by the country's foreign exchange woes and the continued rise of the dollar against Nigeria's currency the Naira, the cost of rice has more than doubled.
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The lira's decline was due to the potential for both a re-vote in Istanbul and a diplomatic spat with Washington over Israel, said Piotr Matys, emerging markets forex strategist at Rabobank.
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Central Bank Governor Elvira Nabiullina said in an interview with Reuters last month that forex risks should be lowered and that the bulk of banking loans in Russia should be in roubles.
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"There is no major demand for dollars in the market and the shilling is really improving due to forex inflows from cotton exports," said a trader at Commercial Bank of Africa Tanzania.
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Last month, central Europe's most dovish central bank cut its deposit rate by 10 basis points to -0.15 percent, and it has increased liquidity in forint markets via its forex swap tenders.
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"The interbank rate is seen climbing again next week as the central bank resumes its aggressive liquidity mop up and sustains its intervention in the forex market," one senior currency trader said.
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Forex traders were also awaiting the U.S. non-farm payrolls report later in the day, which is expected to show 200,000 new jobs were created in November, according to a Reuters poll.
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