Daily News | See what's going on with banks around the world

Daily News | Banks feel threatened

It is the second day of the global binary options trading week and there are plenty of developments in economic and political spheres that could influence the currency market. This Tuesday, we take a good look at the stories that were developing yesterday. Let’s start things off with the GBP today. After the weekend, the currency rose from $1.2211 to $1.2241. Britain’s banks have always relied on the outsized status of their industry in the economy to have a sympathetic ear in the government. But following the country’s vote to leave the EU, the entire sector is dealing with serious issues. A so-called hard Brexit would leave the banks in seriously dire straits, although some feel that they are overstating the issue of “passporting”. We will just have to wait and see if the situation improves in the following days. We now turn our attention to the US dollar. In the same timeframe, the USD fell from €0.9200 to €0.9180. It seems that new, tough banking regulations are beginning to take effect. Former regulators are now wondering if they are too big of a burden on the markets and taxpayers. This new Supplementary Leverage Ratio applies to all bank assets, including Treasury. For long term effects, we will have to wait and see what kind of damage this does.

Daily News | Learn all the secrets

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Author: Max Rothstein
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