Liquidity
Foreign exchange, algorithmic trading, volatility. Financial markets have become more susceptible to liquidity shortages with the rise of algorithmic trading and increased market fragmentation, according to the Bank for International Settlements. Foreign-exchange trading, meanwhile, proved more resilient potentially due to measures taken to curb unwanted behavior from high-frequency traders. Yahoo!Finance.
Excess liquidity. Thailand’s banking system has large excess liquidity, and the central bank has not tightened its lending supervision, an assistant governor said on Monday, reflecting banks’ reluctance to lend. US News and World Report.
Central banks
Ghana, cedi. The Ghanaian cedi has appreciated further in the buying and selling rates against the United States dollar by 11 pesewas and 2 pesewas respectively compared to Wednesday. Modern Ghana.
China, yuan. The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 5.6 basis points to 1.329 percent Thursday. China.org.cn.
India, rupee. At the interbank foreign exchange, the rupee opened at 84.45 and moved in a tight range and touched 84.47 against the greenback, registering a fall of 7 paise over its previous close. ZeeBusiness.
Foreign exchange rates, per Reuters as of 9:49 am EST.
AUD/USD=0.6499
EUR/USD=1.0533
GBP/USD=1.2661
USD/JPY=151.52
10-year bond yields, per Reuters as of 9:54 am EST.
Australia=4.375%
France=2.957%
Germany=2.137%
Italy=3.346%
Japan=1.052%
United Kingdom=4.299%
United States=4.261%
Alton Drew
28 November 2024
Have a concern about legal risks in the foreign exchange market? Contact me at altondrew@altondrew.com.
Lawyers Write the Bets. Bankers Sell the Bets. 