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U.S. regulators to join UK in forex fines for banks
U.S. regulators plan to join their UK peers in a multi-billion-dollar settlement with a group of the biggest global banks accused of manipulating the foreign exchange market, sources familiar with the matter said, adding the deal could come as early as next week.
Dollar Set for Biggest Weekly Gain in 16 Months Before Payrolls
A gauge of the dollar headed for its biggest weekly gain in more than 16 months before a U.S. government report forecast to show employers added more jobs in October than this year's average.
The U.S. currency approached a seven-year high against the yen set yesterday after Bank of JapanGovernor Haruhiko Kuroda said this week the central bank will maintain stimulus as long as needed. The euro was poised for a third weekly decline after European Central Bank President Mario Draghi deepened his commitment to stimulus yesterday.
SNB forex reserves down in October
The Swiss National Bank's foreign exchange reserves fell in October, data showed on Friday.
The SNB held 460.427 billion Swiss francs in foreign currency at the end of October, compared with 462.117 billion francs in September, revised from an originally reported 462.194 billion francs, preliminary data calculated according to the standards of the International Monetary Fund showed.
OPEC concerned, not panicking about oil price: Badri
Fundamental factors do not justify the sharp drop in oil prices, OPEC Secretary-General Abdullah al-Badri said on Thursday, forecasting a price rebound by the second half of 2015.
"We are concerned but we are not panicking," he told reporters at a news conference on the group's 2014 World Oil Outlook.
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