Foreign exchange, the world’s biggest market, is shrinking

 LONDON The foreign exchange market’s status as the world’s largest, built up over decades of rampant globalization, deregulation and growth in financial services, is unlikely to be relinquished any time soon. But the glory days are over. Overall market volume and employment levels at the biggest banks trading currencies are shrinking, as tighter bank regulation, […]

Iran Says No Thanks To Dollars; Demands Euro Payment For Oil Sales

Iran enjoys trolling the United States. In fact, it’s something of hobby for the Ayatollah, who has maintained the country’s semi-official “death to America” slogan even as President Rouhani plays good cop with Obama and Kerry. The ink was barely dry on the nuclear accord when Tehran test-fired a next-gen surface-to-surface ballistic missile with the […]

Emerging Currencies Rally as Dollar Selloff Buoys Risk Appetite

Emerging-market currencies rose to the strongest level against the dollar in a month as a slowdown in U.S. services expansion spurred speculation that the Federal Reserve will delay raising interest rates. Malaysia’s ringgit and South Korea’s won strengthened at least 1.4 percent against the dollar. Turkey’s lira erased this year’s losses. Brazil’s real gained for […]

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