News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

One Year On, Pound Can't Shake Brexit Blues

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Political anxiety has dragged on the British pound in the year since the Brexit vote. But now a shaken power structure in Westminster and a central bank divided by economic cross currents have investors debating whether the beleaguered currency has further to fall.

Global Markets: China Stocks Fall as Deal Makers' Borrowing Probed

Increased regulatory scrutiny over the borrowings of China's most prolific overseas deal makers weighed on mainland markets, as trading elsewhere in the Asia-Pacific region was lackluster.

Fed's Stress Tests Bolster Case for Easing Bank Rules

The outcome gives ammunition to the Trump administration and congressional Republicans who see some of the rules put in place after the financial crisis as excessive.

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Banks Pick New Reference Rate to Replace U.S. Dollar Libor

Efforts to replace Libor with a credible alternative have taken another step forward after 15 banks voted for a replacement of the U.S. dollar London interbank offered rate.

Consumer Bureau Criticized by Fellow Bank Regulator

Bank regulators rarely take public shots at each other, but the Consumer Financial Protection Bureau came under fire by an official who told senators the CFPB was doing a bad job of overseeing midsize banks, instead focusing on big banks, and should be stripped of its powers to supervise banks altogether.

BOE's Forbes Sees Central Bankers Hindered by Their Higher Profile

Central bankers around the world have displayed a reluctance to raise interest rates that may be partly due to increased scrutiny that has made them overly sensitive to possible economic setbacks, a Bank of England rate setter said in her valedictory speech Thursday.

Trump Promises Telecom Executives Less Red Tape

President Donald Trump on Thursday told technology and telecom executives the government will tackle federal regulations they consider too restrictive but stopped short of announcing any specific policies aimed at their industries.

Mexico's Central Bank Lifts Rates

The Bank of Mexico lifted the overnight interest rate target by a quarter percentage point to 7%, the highest level since early 2009, and indicated that the tightening cycle that began in September has ended for now.

U.S. Regulators Propose a Lighter Touch for Banking Oversight

Banks would see an easing of trading restrictions, more transparency in stress tests and less burdensome capital requirements under rollbacks proposed by policy makers to Senate lawmakers Thursday.

Consumer Regulator Seeks to Ensure Student-Loan Break for Public Service Workers

A federal consumer regulator wants to make sure people who pursued careers in public service are receiving breaks they earned for forgiveness of student-loan debt.

(END) Dow Jones Newswires

June 23, 2017 01:16 ET (05:16 GMT)