Currency Color

…[PAYWALL] Citi is seeking to cut the total number of supported multibank platforms from 45 to 15 by the first quarter of 2020...Citi is the first big bank to turn the tables on vendors and become more selective in its approach, at the risk of alienating some clients. But other rivals also gripe privately about the plethora of platforms and their associated costs… Citi Plans to Withdraw from Two-Thirds of FX Trading Platforms by Eva Szalay at FT (link to article: CurrencyColor co/asq)

…the yen’s stubborn weakness has been because of Japan’s Government Pension Investment Fund buying foreign assets, which has led to downward pressure on the currency. The pension fund is the world’s largest, with about $1.5tn of assets. The GPIF’s hefty investments abroad keep the lid on gains in the yen without Japan having to resort to market interventions that could prompt US president Donald Trump to accuse the country of manipulating its currency… There Is a $1.5 Trillion Reason for the Yen Not Moving Higher by Eva Szalay at FT [PAYWALL] (link to article: CurrencyColor co/sqc)