Feb 182018
 
Iran targets currency exchanges in efforts to halt rial slide

Iranian police clamped down on foreign-exchange offices while the central bank introduced new measures to encourage bank deposits, as a rial depreciation threatens to push up prices amid growing discontent. The rial reportedly fell to a record low of 50,000 to the dollar during unregulated trading …
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FOREX-Dollar cools despite rising bond yields, hits 15-month low vs yen

As the funds are invested, the primary foreign exchange transaction is the sale of the dollar in exchange for local currency. The increased supply, then sale pushes the price of the greenback lower. The dollar had briefly jumped on Wednesday after data showed U.S. inflation was stronger than expected …
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FOREX-Dollar hits 15-month low vs yen, some see further slide

The U.S. currency later pared some of its losses and was last down 0.4 percent at 106.56 yen. “There's nothing specific, it's just a continuation of dollar selling that we've seen everywhere overnight, said Tareck Horchani, head of sales trading in Asia Pacific for Saxo Markets in Singapore. Traders and …
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BNY Mellon spearheads South Korean FX prime brokerage emergence as international …

Well, South Korea is becoming an area of opening to the world for China's FX liquidity. South Korea and China launched a direct exchange market for their currencies in December 2014, meaning that Yuan can be exchanged directly and then traded in other currencies and against other currencies by …
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Feb 172018
 
WEEKAHEAD-AFRICA-FX-Zambian Kwacha seen gaining, Ugandan shilling losing

The kwacha is likely to gain against the dollar in the coming week as by investors buy the local currency to use in this year's first bond auction, due next Friday. At 1200 GMT on Thursday, commercial banks quoted the currency of Africa's second-largest copper producer at 7.7800 per dollar, up from a …
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Blue Trading Platform: Managed Trading Without the Worry

If last year was the big bang for cryptocurrencies, 2018 will be the same for ICOs, exchanges, and trading platforms. Finding the right one with a solid reputation, good customer support, and fair fees will be a challenge in this ever expanding market. The Blue Trading platform seems to have hit the sweet …
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EUR/USD – Euro Rise Continues on Broad Dollar Weakness

The recent stock market turbulence has triggered volatility in the currency markets, and this is causing concern at the ECB. Last week, ECB President Mario Draghi said that he is more confident that eurozone inflation is moving closer to the Bank's target of just below 2 percent, due to improving economic …
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CME Group January Options ADV Posts Record 4.5 Million Contracts Per Day

The scope of CME's FX Options appears to exhibit positive results. The total ADV for FX Options reached 99,427, representing a YoY improvement of 44%. The currency pair posting the greatest gains in ADV is EURUSD, with a 95% YoY rise to 53,295 contracts per day. The next biggest mover on the list …
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Feb 162018
 
Japanese Crypto Investors Flee Capital Gains Taxation of up to 55%

Some traders have criticized the income brackets chosen by the National Tax Agency, with the top bracket applying to payers with an annual income of 40 million yen (approximately 375,000). By contrast, the top bracket is charged only 20% for income derived from foreign exchange or stock market …
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Plus500 shares soar as the Israeli firm reaps rewards from trading in crypto-currencies

Spread-BETTER Plus500 racked up more than $10 million in profit in a single day as trading in crypto-currencies surged, the firm said today. The December surge in bitcoin triggered a $10.5 million (£7.6 million) profit for the Israeli-based, London-listed firm as the currency headed towards $20,000, …
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FOREX-Dollar reverses earlier gains as equities show resilience

The riskoff trade – that is, the sale of riskier currencies in emerging markets and the Australian and Canadian dollars in favor of safer havens – that investors put on immediately after the CPI release “have come bouncing back, helped by equity resilience,” said Alan Ruskin, global head of currency …
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Trader Charged With Stealing $2 Million in Cryptocurrencies

Consolidated formed a cryptocurrency group in September to engage in currency trading and that same month moved Kim to the unit. Kim had worked as an assistant bond trader for the Chicago-based company, according to the criminal complaint. Kim's crime appears to have started within weeks of his …
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Feb 112018
 
Japanese crypto exchange says $400 million in currency lost

Coincheck said earlier it had suspended all withdrawals, halted trading in all tokens except bitcoin, and stopped deposits into NEM coins. “We are looking into the facts surrounding Coincheck,” Japan's Financial Services Agency said in a statement. The disappearance likely ranks among the biggest …
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Busy Day for Bitcoin, Ethereum and Ripple

Ethereum, the second-largest digital currency by market cap, traded about 6 percent lower, near $1,104. Ripple plunged more than 9 percent to $1.15. Some experts have attributed the fall to the US regulators' ramping up scrutiny of one of the world's largest virtual currency exchanges. They also …
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Why Crypto Traders Are So Worried About Tether

It's one of the most hotly debated questions in the world of virtual currencies: Is Tether telling the truth when it says that each of its digital tokens is backed by one U.S. dollar? News on Jan. 30 that American regulators are scrutinizing the company has given fresh ammunition to the skeptics.
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Dollar dashboard 2018: Blinking red

LONDON (Reuters) – The struggling dollar is on track to post its biggest monthly decline in nearly two years as investors ramp up bets that likely higher U.S. interest rates wouldn't support the … But are markets being too quick to price the dollar as the consensus short trade in currency markets for 2018?
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Feb 092018
 
Dollar Higher as Global Stock Market Rout Extends

In the currency markets, Dollar is trading broadly higher today, but overwhelmed by New Zealand Dollar. Yen follows closely as the third strongest today, but the strongest for the week. Notable weakness is seen in European majors. Economic data are talking a back seat today. US trade deficit widened …
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Serenity: Cryptocurrency trading versus forex trading

The investment asset with a more than forty-six-fold increase will undoubtedly come to the attention of any trader who makes money in speculative markets. Watching the abrupt rise of the entire crypto market in 2017, private traders, who trade in the currency and contract for difference, have gradually …
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GBPUSD breaks the next target and moves above 1.4000

The run higher in the GBPUSD has run against expectations that the UK Brexit issues would put a lid on the pair. That has not been the case. In the new year, the low stalled at 1.3456. That was close to the lowest of the post-Brexit swing highs from 2016 (see yellow area on the daily chart above).
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Cryptocurrency craze gets European exhange: World's biggest bitcoin trading platform BitFlyer …

The cryptocurrency craze looks like going from strength to strength in Europe after the world's biggest trading platform was granted a regulatory licence to operate in the European Union. Tokyo-based BitFlyer, which was set up in 2014 and already serves the huge demand for digital currencies in the US …
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Feb 062018
 
CANADA FX DEBT-C$ rises vs weaker greenback as investors weigh inflation data

At 9:13 a.m. EST (1413 GMT), the Canadian dollar was trading 0.2 percent higher at C$1.2355 to the greenback, or 80.94 U.S. cents. The currency traded in a range of C$1.2298 to C$1.2391. On Thursday, the loonie touched a four-month high at C$1.2283. Canada's annual inflation rate dipped to 1.9 …
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The dollar's terrible week is a warning of what could come if Trump's team missteps on trade

U.S. officials created a small firestorm with their dollar comments in the chilly air of Davos this week, but a much more important factor for the future of the currency will be what they say and do about trade when they leave Switzerland. Strategists say the dollar could consolidate now after its latest bout of …
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BNP Paribas unit fined 90 mln USD for currency rigging

WASHINGTON, Jan. 26 (Xinhua) — BNP Paribas USA, a subsidiary of BNP Paribas, pleaded guilty to participating in a price-fixing conspiracy in the foreign currency market (FX), and agreed to pay a criminal fine of 90 million U.S. dollars, said the U.S. Department of Justice on Friday. BNP Paribas USA …
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What South Korea's Cryptocurrency Ban Means for Bitcoin

The first of South Korean cryptocurrency regulations will kick off on January 30. These new restrictions will ban the use of anonymous bank accounts to make crypto transactions, keep underage investors and foreigners from opening accounts in any South Korean exchange, and will heavily tax virtual …
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Feb 042018
 
US Department Of Justice: BNP Paribas USA Inc. Pleads Guilty To Antitrust Conspiracy – Sixth …

BNP Paribas USA Inc. (BNPP USA), a subsidiary of BNP Paribas S.A., pleaded guilty yesterday to participating in a price-fixing conspiracy in the foreign currency exchange (FX) market, the Justice Department announced. According to the one-count information filed yesterday in the U.S. District Court for …
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BNP Paribas Pleads to Antitrust Conspiracy, Agrees to $90M Fine

BNP Paribas pleaded guilty to a single count violation of the Sherman Act and agreed to a $90 million criminal fine to settle an investigation into a foreign exchange price-fixing conspiracy involving central and eastern European, Middle Eastern and African currencies, the U.S. Department of Justice …
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US fines BNP Paribas US$90 million for price fixing in forex market

NEW YORK (AFP) – BNP Paribas pleaded guilty to conspiring to fix the foreign exchange market and agreed to pay a US$90 million (S$118 million) criminal fine to settle the case, the US Justice Department announced Friday (Jan 26). The big French bank worked to fix prices of the currencies of Central …
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CANADA FX DEBT-C$ strengthens vs weaker greenback as core inflation rises

Speculators raised bullish bets on the Canadian dollar for the third straight week, data from the U.S. Commodity Futures Trading Commission and Reuters calculations showed. As of Jan. 23, net long positions rose to 22,557 contracts from 17,556 a week earlier. Canadian government bond prices were …
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Feb 032018
 
Crackdown Sends Cryptocurrency Prices Tumbling

Leading cryptocurrencies, including bitcoin and Ethereum, tumbled after Bloomberg reported that digital currency exchange Bitfinex was subpoenaed by the U.S. Commodity Futures Trading Commission. In addition to the Bitfinex subpoena, South Korea has begun implementing a new set of stricter …
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Seoul not banning cryptocurrency exchanges, uncovers US$600m illegal trades

SEOUL: South Korea's finance minister said the government has no plans to shut down cryptocurrency trading, welcome news for investors worried that … Illegal foreign currency trading of 472.3 billion formed the bulk of the cryptocurrency crimes, it said in a statement, but gave no details on what action …
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Forex – Korea Flows: USD/KRW traded tightly above 1070.00

USD/KRW onshore spot gapped higher to open at fresh 1-month high of 1074.00 from last close of 1073.60. The currency pair sustained trading above 1070.00 handle and traded tightly at 1072.80. South Korea and U.S will begin 2nd round of FTA talks to seek amendments amid rising trade tensions …
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FOREX-Euro gains as dollar bounce runs out of steam

After Trump said on Thursday he ultimately wanted the dollar to be strong, the dollar pared losses against major currencies. But against a basket of six major currencies, the dollar last traded on Friday at 88.87 .DXY , after hitting a three-year low of roughly around 88.43. The dollar index has slid more …
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Jan 312018
 
Donald Trump in Davos: dollar talk adds to fears of trade war

That momentum could be checked, however, if leading economic powers start clashing over currencies or trade relations as America pulls back from its role at the vanguard of the liberal international order. Polling across 134 countries from Gallup suggests America's traditional leadership role has …
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People show huge interest in Robinhood Crypto, but skeptics worry it will just fuel the bubble

Just over 24 hours since no-fee stock trading app Robinhood announced it would roll out free digital currency trading in February, 530,000 and counting have signed up to “get early access.” That surge of interest has quickly brought out the critics: skeptics of bitcoin's skyrocketing price and Robinhood's …
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How a strong or weak dollar affects investment returns

Among the many things advisers have to worry about, the direction of the U.S. dollar on foreign currency exchanges typically ranks somewhere between where to go out to dinner next Tuesday and how often to floss your teeth. But the dollar's moves could have a big impact on returns from international …
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Japan's Coincheck suffers largest virtual currency theft

At around 3 a.m. Friday, essentially all NEM — a type of virtual currency — held by the Tokyo-based exchange was illicitly transferred out of its digital coffers. Coincheck discovered the breach after 11 a.m., and soon halted withdrawals in all currencies. Trading is on hold for all virtual currencies except …
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Jan 232018
 
Unregulated Forex brokers in China get squeezed by authorities

Just like in most other regions of the world, retail forex trading is booming in China as well. Also similar to other regions, there have been a lot of unregulated forex brokers in China who have been wooing the country's residents. Recently, though, financial regulators in China have started to squeeze out …
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Bitcoin, other virtual currencies like Ponzi schemes: Finance Ministry warns investors

The Finance Ministry statement further said that users, holders and traders of VCs have already been cautioned three times by the Reserve Bank of India (RBI) about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to by investing …
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Dollar set to suffer worst year since 2003 with 10% yearly loss

The ICE U.S. Dollar Index DXY, -0.35% , a measure of the dollar against a basket of six major rivals, fell 0.2% to 92.423, trading around its lowest level … Falling yields are generally bearish for the home currency and on Wednesday, the yield for the benchmark 10-year Treasury note TMUBMUSD10Y, …
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forex trading signals december 29 2017

Dollar/Yen sees 7 sell prompts on both its short and mid-term charts and 4 neutral signals on its long-term scale, but the technicals are not supported by the interbank, which is bullish at more than 19% long. Bullish models prevail on Pound/Yen's hourly chart, but the mid and long-term scales turn neutral …
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