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Britain's banks are not reporting the full extent of cyber attacks to regulators for fear of punishment or bad publicity, bank executives and providers of security systems say. Reported attacks on financial institutions in Britain have risen from

BNP Paribas CLEER is our medium-term FX model which estimates the fair value of a currency based on cyclical macroeconomic fundamentals  (CLEER stands for CycLical Equilibirum Exchange Rate). The fundamental input factors into CLEER are

FX markets are seeing cracks . As we highlighted last week, the USD/JPY, GBP/USD and gold experienced significant breaks on 3-4 October. The EUR/USD (and USD/CHF) break on the downside happened later, the move taking place this week on 11 October

Momentum and historical precedent set by previous bouts of Pound Sterling weakness have Bank of America nervous that their official forecasts for the currency are far too optimistic. Pound to Dollar exchange rate today (15-10-16) = 1.2191, Pound to

It looks like there might be another war of words developing on Wall Street. The Chicago Stock Exchange in August outlined plans to adopt what it calls a Liquidity Taking Access Delay , a 350-microsecond delay for those who trade against resting

German Chancellor Angela Merkel, speaking over the weekend said the UK could not get concessions on freedom of movement while retaining full access to the European single market. Says then other countries will want the same "If I start making

European Central Bank President Mario Draghi will have a tricky task next Thursday: give just enough clues about the bank's next move but not fuel undue expectations that could perturb markets. China will also be in spotlight in the coming week

After two years of preparations, new rules aimed at preventing a 2008-style stampedeout of money-market funds took effect Friday after sending ripples through financial markets and forcing businesses to adjust their money management techniques. For

The North American Marijuana Index has gained 105% over the past three months, buoyed by expectations that California and several other states could vote to legalize recreational weed this November. The North American Marijuana Index closed at

For once, the most interesting data in this week’s CFTC (FX) position report wasn’t how short everyone is of sterling, but  a renewed build-up of Euro shorts . OK, in the 5-eyar chart below you can see that it’s not a huge increase

Since the Conservative party conference in Birmingham just under two weeks ago the market has progressed again through the five stages of “Brexit grief” into acceptance of a Hard Brexit. The rhetoric from ministers with “red lines” on immigration has

BNPP and Soc Gen call a temporary halt on staff transfers and UK hiring Following on from the earlier comments from French and German financial centres, the FT reports that BNPP and Soc Gen have put internal staff transfers

Volatility in euro markets rose last week on media reports, that the ECB may be discussing tapering its asset purchase program, scheduled to end in March 2017. However, such speculation was quickly denied by Vice President Vitor Constancio. The ECB’s

MPC Cunliffe/FOMC Dudley and George Tomorrow's highlights include speeches by Feds Dudley and George.   Dudley is due to speak at the Fireside Chat with the Business council of New York at 8 AM ET/1200 GMT.  Esther George is scheduled to

Despite the bounce seen after last week's "flash crash," sterling was back on the ropes Tuesday, with traders treating the beleaguered currency like a hot potato. While market players generally envisioned an eventual recovery for cable, they did not

EUR/USD meanwhile, has fallen quickly to 1.10 after breaking support at 1.1130. That may be more of a psychological than technical support, but the break could well open the way to a move to 1.08, which would look like a big move in the context

5 Reasons Why Sterling Could Fall By Add'l 7% In 2 Months With the prospect of a 'hard Brexit' becoming a reality, investors who were previously expecting a 'soft' Brexit, or no Brexit at all, have updated their priors, and Sterling has depreciated

 The two primary themes in the foreign-exchange market Tuesday was sterling weakness and U.S. dollar strength. In many ways, these two trends came hand in hand as sterling’s losses were compounded by the rise in the dollar while the dollar’s

Sterling fell by about 11% in trade-weighted terms right after the vote on EU membership. But the Pound has mostly traded in a narrow range since Theresa May took over as Prime Minister before breaking lower this week. The Bank of England delivered a

We revised our forecasts for Sterling sharply lower in July, bringing in particular our 3-month forecast for GBP/$ to 1.20.   In the period that followed, however, Cable refused to fall in line with our forecast for two reasons. First,  the