Saturday , August 17 2019

Recent Posts

Why worst may not be over for pound

GBP

For the weakening British pound, the worst may not be over. Derek Halpenny, head of global markets research at Bank of Tokyo-Mitsubishi UFJ, said there’s scope for major drops in the currency as the “Brexit” debate rages on. “I think we’re still in for potential further declines,” Halpenny told CNBC’s ...

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China Pulls $129B Amid Expectations Of Forex Stability And Rising Yuan

chinacurrencyjan2016

The People’s Bank of China withdrew 840 billion yuan ($129 billion) from the country’s financial system in five days through Friday, its biggest weekly withdrawal since February 2013, according to data compiled by Bloomberg. PBOC was mopping up excess liquidity infused in the market by the central bank’s decision to ...

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ISIS ‘making millions’ by gaming forex markets

FILE - This undated file image posted on a militant website on Jan. 14, 2014, shows fighters from the Islamic State group marching in Raqqa, Syria. T (AP Photo/Militant Website, File)

The militant group that calls itself Islamic State (ISIS) is exploiting national banking operations in Iraq and could be making up to $25 million a month in Middle Eastern money markets, according to experts. Speaking to a U.K. parliamentary subcommittee set up to examine how Britain could help disrupt ISIS ...

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