Gertrude's Feed
Jan 26, 2015

Winklevoss twins expect first quarter debut of bitcoin exchange

By Gertrude Chavez-Dreyfuss and Jessica Toonkel

HOLLYWOOD, Fla. (Reuters) – Winklevoss Capital, the firm run by Cameron and Tyler Winklevoss, expects to get regulatory approval to launch a U.S. exchange for investors to buy and sell the virtual currency bitcoin in the first quarter, the twins told Reuters on Monday.

    “The information coming  out of the DFS (Department of Financial Services) is that Q1 is their goal. And we will be ready by then,” Cameron Winklevoss, a principal at New York-based Winklevoss Capital, said in an interview at ETF.com’s Inside ETFs Conference in Hollywood, Florida.    

Jan 21, 2015

Exclusive: GAIN to cover clients’ FX negative balances from Jan. 15 franc trades – letter

NEW YORK (Reuters) – U.S.-based currency broker GAIN Capital Holdings Inc said it will forgive all negative balances incurred by its retail clients on Jan. 15 after the Swiss National Bank jolted markets by eliminating a three-year-old cap on the Swiss franc.

In a letter to clients obtained by Reuters, GAIN said on Wednesday it will forgive the negative balances incurred by FOREX.com’s retail clients “where permitted by regulation.” FOREX.com is Gain’s retail currency trading platform.

Jan 20, 2015

Market gives thumbs down to FXCM after rescue deal

LONDON/NEW YORK (Reuters) – Shares in retail currency broker FXCM (FXCM.N: Quote, Profile, Research) lost two-thirds of their value on Tuesday as the company laid out details of a rescue loan after $200 million of losses on last week’s shock removal of the cap on the Swiss franc.

The U.S. firm is among the biggest online brokers that have prospered over the past decade from a rise in small-time currency speculation, often by helping individuals to leverage small sums into large bets.

Jan 16, 2015

FX broker FXCM posts big losses after Swiss franc-linked losses

NEW YORK (Reuters) – FXCM Inc’s shares plunged nearly 90 percent in premarket trading on Friday after the retail foreign exchange brokerage said its clients had lost significant amounts of money from the big jump in the Swiss franc, and it may have too little capital.

Large global banks and retail brokerages have been hit hard by the Swiss National Bank’s sudden move Thursday to scrap its three-year-old cap on the value of the Swiss franc at 1.20 per euro.

Jan 15, 2015

Hedge funds, speculators face big losses on Swiss franc rally

NEW YORK/LONDON, Jan 15 (Reuters) – Currency speculators,
particularly large global macro hedge funds with big short
positions in the Swiss franc, are staring massive losses in the
face after the Swiss National Bank shocked markets on Thursday
by removing a three-year-old cap on the currency.

The move sent the safe-haven franc soaring against the euro
and the U.S. dollar at a time when more than $3.5 billion was
positioned in favor of franc weakness, the largest such position
in more than a year and a half.

Jan 14, 2015

Dollar slides on weak U.S. data, uncertain rate outlook

NEW YORK, Jan 14 (Reuters) – The dollar slid to a four-week
low against the yen on Wednesday after the U.S. interest rate
outlook was muddied by a surprise drop in December U.S. retail
sales data, covering the holiday shopping season.

The greenback has fallen four straight days versus the yen
and was on track for its first monthly loss since June 2014. So
far in January, the dollar was down 2.1 percent.

Jan 14, 2015

Dollar in the doldrums as U.S. retail sales disappoint

NEW YORK (Reuters) – The dollar dropped to a four-week low against the yen on Wednesday after data showed a surprise drop in U.S. retail sales last month, despite the holiday season, which muddied the outlook for interest rates this year.

The greenback has fallen four straight days versus the yen and was on track for its first monthly loss since June last year. So far in January, the dollar was down 2.5 percent against the Japanese currency.

Jan 13, 2015

Euro drops to nine-year low as easing expectations mount

NEW YORK, Jan 13 (Reuters) – The euro plunged to a nine-year
low against the dollar on Tuesday after a senior European
Central Bank policymaker urged the ECB to go ahead with its
proposed stimulus measures and revitalize a slumping euro zone
economy.

The euro has fallen in seven of the last eight sessions and
was on pace for a sixth straight week of losses.

Jan 13, 2015

Dollar bolstered by U.S. rate, economic outlook

NEW YORK (Reuters) – The dollar gained on Tuesday, still benefiting from more upbeat U.S. economic prospects compared with the rest of the world that should keep the Federal Reserve on track to raise interest rates this year.

The greenback has risen in seven of the last eight sessions against a currency basket and is on track for a fourth straight week of gains.

Jan 12, 2015

U.S. dollar slides vs yen in choppy trading

NEW YORK, Jan 12 (Reuters) – The dollar fell against the yen
on Monday in volatile trading, pressured by weakness in U.S.
stocks as the currency’s positive outlook was somewhat
diminished by surprisingly weak U.S. wage data on Friday.

Friday’s wage numbers cast doubt on a key driver of the
dollar’s ascent over the past six months. Some market
participants have questioned why the Federal Reserve should
raise interest rates this year in the absence of clear evidence
of inflationary pressures.