Forex is very active this morning. The spread mimics the CBI. This tells me that big traders are going for position. The positive is they expect something ti happen. The negative is probably not today. But always remember, Forex follows the market or tries to project what it thinks the market will be. And Forex is only one piece of the pie.
Exciting times! Travelex story
After hearing the travelex story this weekend From UT (think). my son was encouraging me to call the travelex in pa. So I did! the lady on the phone acknowledge the dinar but said they had no word that they would be exchanging it. Then she asked me if I said dinar or dong? I said dinar but if she wanted to give me info re the dong, I'd be interested.
So she gave me the current exchange rate for dong and told me of a situation she had a week ago with a man that came in to get 40,000 dong who was on the phone with someone and they were traveling back to Vietnam to take it home. "So something big is happening "
I then asked her about the zim and she said that they were very surprised when they heard it would be reevaluating but she was not sure if its in the "first roll out, or next". She did also state that receipts and verification would be required at time of exchange.
She said when the are cleared to exchange she thought they could only do small amounts because of the value it sounds that it should go at "heard $8-10". I said yes I had heard those numbers too but wasn't sure.
We were very encouraged because I had contacted several banks and even travelex months back and all had said the same "scam or didn't handle and wouldn't". But this time she was VERY open and talkative !!!
She was referring to the dinar in $8-10 rate but acknowledged that the dong would be a good exchange also
Carney calls for more cooperation to tackle bad behavior at banks
Central banks and regulators across the world should cooperate more in probing and punishing bad behavior at banks, Financial Stability Board Chairman Mark Carney said on Monday.
"We need the fixes to bank conduct but we also need to ensure that, to the maximum extent possible, there is coordination across authorities, both in terms of identifying, investigating and punishing misconduct," Carney told a news conference.
The FSB is the regulatory task force for the Group of 20 economies (G20).
"We are undertaking a series of reforms that change the way markets work which reduce the opportunity of misconduct, but that's not the same as having the right culture codes in order to perceive it. This has risen to the level of financial stability and we need a comprehensive approach to address it," Carney said.
Banks have been fined a total of $6 billion for trying to manipulate interest rate benchmarks. Six lenders are expected to be punished for attempted manipulation of the foreign exchange market this week, sources have told Reuters.
Carney, who is also governor of the Bank of England, said changes to culture at banks are needed to improve conduct.