June 18, 2014 BY Mike Fox

China to start yuan vs. sterling trading in FX market from Thursday

China's central bank said on Wednesday that the Chinese currency will be traded directly against the British pound in the interbank foreign exchange market, in the latest step to facilitate investment and bilateral trade between China and Britain. This update comes as finally China Construction Bank was named the clearing bank in London for the…

Read more
June 17, 2014 BY Mike Fox

Fraud Watch: CySEC warns on 5markets.com

Here is a warning to the public to stay away from 5markets.com. CySEC has issued a warning which may indicate they have falsely claimed some sort of regulation, which they do not have and/or are operating without any license. You can read the official press release below. The Cyprus Securities and Exchange Commission (‘the Commission’)…

Read more
June 17, 2014 BY Mike Fox

Citigroup FX Chief Jeff Feig to leave bank...

The departure of Mr. Feig, the bank’s global head of foreign exchange, was announced to staff Tuesday, and follows that of the firm’s most senior currencies banker, Anil Prasad, earlier this year. That leaves the bank lacking senior figures in its currencies business at a delicate time; Citigroup is one of the world’s largest currencies-dealing…

Read more