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The euro is in an unusual position of getting stronger against sterling, but weaker against the dollar

Coining it: What currency shifts mean for Ireland

The euro is getting weaker against the dollar but stronger against the pound, which is having a strange impact on the global buying power of Irish consumers and businesses, writes Adam Maguire.

Business • 02 Oct 22

Machine-driven trading systems in the $5.1 trillion-a-day global currency market are struggling to cope with the blizzard of Brexit headlines

Brexit headline blizzard overloading FX algorithms

Machine-driven trading systems in the $5.1 trillion-a-day global currency market are struggling to cope with the blizzard of headlines about Britain's efforts to extricate itself from the European Union.

Business • 04 Apr 19

The World Bank said the cost of sending money overseas from Australia was higher than both the Group of 20 nations and global averages

Australia watchdog opens inquiry into forex services

The Australian Competition and Consumer Commission has opened an inquiry into price competition among suppliers of foreign currency conversion services and would investigate the ability of potential entrants to compete.

Business • 02 Oct 18

Against the euro, the dollar is 0.16% higher on the day at €1.1742

Dollar slumps again on US political turmoil

The dollar slumped today, especially against the yen, hurt by geopolitical tension in North Korea and as investors braced for the annual central banking conference in Jackson Hole this week where the world's top central bankers may signal their next policy actions.

Business • 21 Aug 17

Analysis by FEXCO shows increase in Irish builders spending on UK imports

Irish construction firms spending more on UK imports

Irish construction firms have more than doubled their spending on UK imports amid the pound's weakness in 2017.

Business • 06 Jun 17

The onshore yuan is down over 3% so far this year, and remains under pressure as investors expect US interest rates to be increased

China's foreign exchange reserves fall by €80bn

China's foreign exchange reserves, the world's largest, fell by $87.2 billion (€80.6 billion) in November to $3.44 trillion, central bank data has showed, the lowest level since February 2013 and the third largest monthly drop on record.

Business • 07 Dec 15

Some of the world's largest banks are accused of rigging the $5.3 trillion-per-day market

Nine banks settle over foreign exchange scandal

Nine banks including Britain's Barclays, HSBC and Royal Bank of Scotland have agreed a settlement of more than $2 billion with US investors over foreign exchange rate rigging claims, lawyers said.

Business • 14 Aug 15

UK's Barclays fired eight employees as part of its settlement

Global banks plead guilty on rate rigging

Authorities have fined five of the world's largest banks, including JP Morgan Chase & Co and Citigroup, roughly $5.7 billion.

Business • 20 May 15

News agency Bloomberg reported that BP traders had been contacted by staff from banks involved in the trading scandal

BP investigated reported link to forex scandal

Oil giant BP faces being drawn into the foreign exchange rigging scandal after it emerged that it has been investigating whether its traders were linked to the manipulation of the £3 trillion-a-day market.

Business • 31 Dec 14

RBS has already paid hundreds of millions of pounds in fines relating to separate investigations

RBS withholds some bonuses over forex probe

RBS has withheld the bonuses of 18 staff members under investigation for possible roles in rigging the foreign exchange market.

Business • 24 Dec 14

Profit was down in the quarter but 16% higher in the first nine months of the year as a whole

Airbus profits fall 41% in third quarter

European aerospace giant Airbus said its profits had nearly halved in the third quarter, as it ran into headwinds from adverse foreign exchange moves.

Business • 14 Nov 14

Bank of England fires its chief foreign exchange dealer after evidence of serious misconduct found

BoE fires chief foreign exchange dealer

The Bank of England has fired its chief foreign exchange dealer after it found information about serious misconduct, but said the dismissal was unrelated to a foreign exchange scandal.

Business • 12 Nov 14

Britain's Serious Fraud Office and Financial Conduct Authority have launched investigations into alleged manipulation of foreign exchange markets

Barclays sets aside £500m over forex rigging claim

Barclays has set aside £500m over the alleged rigging of foreign exchange markets which are being probed by regulators around the world.

Business • 30 Oct 14

A British-US investigation centres on London's 4pm currency fix, where key exchange rates are set

Banks 'struggling' to stop currency manipulation

Britain’s banks are struggling to stamp out alleged collusion in the foreign exchange market, the chairman of the country’s Financial Conduct Authority has told a parliamentary committee.

Business • 09 Sep 14

Lloyds Bank is subject to an investigation into the manipulation of global currency markets

Lloyds head of foreign exchange trading quits post

Lloyds Bank's head of foreign exchange spot trading has left the bank, citing personal reasons unrelated to the investigation into manipulation of the global currency market, sources have said.

Business • 15 Apr 14

Bank of England chief Mark Carney appeared before British lawmakers

Forex investigation 'extremely serious' - Carney

The alleged manipulation of foreign exchange markets is "as serious as" the Libor rate rigging scandal that rocked the financial sector, Bank of England governor Mark Carney has said.

Business • 12 Mar 14

Fexco acquires English foreign exchange firm

Financial services company Fexco is to acquire English foreign exchange retailer InterCash.

Business • 17 Feb 14

The foundering economy has proven to be a major political liability for President Cristina Kirchner

Argentina lifts foreign currency restrictions

Argentina has lifted restrictions in place since 2011 that limited the purchase of foreign currency, a day after the peso suffered its worst single-day dive since the 2002 financial crisis.

Business • 24 Jan 14

Foreign Exchange