Coutts & Co. is adding gold for investors as rising wealth in China and increasing political risks including in Ukraine spur demand, helping prices rally from the biggest annual decline in more than three decades.
The U.S. Securities and Exchange Commission is investigating whether currency traders at the world’s biggest banks distorted prices for options and exchange- traded funds by rigging benchmark foreign-exchange rates, according to two people with knowledge of the matter.
Australia’s dollar has tumbled 15 percent from its high last year and strategists forecast more pain ahead. For Goldman Sachs Group Inc., it’s the perfect time to develop Sydney as a hub for trading local-currency assets.
Asian stocks tumbled, led by shares in Hong Kong and Shanghai, copper headed for its biggest two-day retreat since May and emerging-market currencies fell as weaker- than-estimated Chinese trade and inflation data stoked concern over the outlook for the world’s second-largest economy.