Three former Rabobank traders were charged by the U.S. with engaging in a five-year scheme to manipulate benchmark interest rates as international probes of rate rigging escalate.
Current-account and fiscal deficits as well as growing political risks may prove a “toxic cocktail” for the pound’s world-beating gains, according to Royal Bank of Scotland Group Plc.
Step 1: Plan your outfit. Step 2: Adjust Libor submissions to maximize profit.
The Swedish and Norwegian currencies gained against the euro after the European Central Bank cut its deposit rates to below zero and signaled further measures.
The yen reached the strongest level in a week against the dollar as a flareup in tensions between Russia and Ukraine stoked investor demand for safety.
The pound declined toward a five-week low against the dollar as the Bank of England’s Monetary Policy Committee prepared to announce its latest decision three days after Mark Carney joined as Governor.
"A lot of heavy U.S. data towards the end of the week and the overhang of talk of EU sanctions is keeping a cap on any significant moves in foreign exchange today."
- Paul Robson on Jul 29, 2014
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