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2025-08-25T16:49:45.713+02:00 Monday, 25/08/2025 | 14:49 GMT by Jared Kirui The regulator plans to mandate central clearing for certain products such as interest-rate and FX swaps, repos, and forwards. Non-bank OTC derivatives providers will also reportedly face tougher capital standards to align their treatment with banks. South Africa’s regulators are preparing sweeping changes to the country’s over-the-counter (OTC) derivatives market in a bid to reduce systemic risk and tighten oversight of non-bank providers. The Financial Sector Conduct Authority (FSCA) said new capital and clearing requirements could be implemented within the next three years. Central Clearing on the Horizon FSCA Commissioner Unathi Kamlana said the regulator plans to require certain OTC products to be cleared through a central counterparty. The move, he noted, is aimed at improving transparency and preventing hidden exposures in a market with an outstanding balance of 44.7 trillion rand ($2.6 trillion). The products under consideration include interest-rate and foreign-exchange swaps, repurchase agreements, and forwards. “That work is on the way, and it’s going to be consulted on by the industry,” Kamlana said. The reforms also target non-bank OTC derivatives providers, which will face tougher capital requirements under the new framework. Regulators want to align their treatment with that of banks and reduce incentives for riskier trades to shift outside the banking sector. The proposals follow a wave of global reviews aimed at preventing destabilising counterparty failures. South Africa began its own process seven years ago, with the FSCA now moving to close gaps identified in earlier studies. Infrastructure Already in Place South Africa has reportedly already licensed one central counterparty, JSE Clear, operated by JSE Ltd., and appointed Strate as a transaction repository. Both are expected to play a central role in the new framework, which will strengthen regulators’ ability to monitor systemic risks. Industry consultation on the proposals is expected to begin soon, with market participants facing a more stringent prudential environment once the rules come into force. You may also find interesting: WhatsApp Investment Scam Masquerading as Johannesburg Stock Exchange Triggers FSCA Warning Meanwhile, South Africa’s financial regulator recently cautioned the public about a fraudulent investment scheme that is using the Johannesburg Stock Exchange name on WhatsApp to entice investors. The Financial Sector Conduct Authority said Octodec has been falsely presenting itself as connected to the JSE, South Africa’s only licensed securities exchange. The JSE, through its legal representatives, confirmed that no such affiliation exists and distanced itself from the company’s activities. The regulator warned that this kind of misrepresentation is illegal and urged investors to remain vigilant against schemes that claim ties to licensed exchanges. South Africa’s regulators are preparing sweeping changes to the country’s over-the-counter (OTC) derivatives market in a bid to reduce systemic risk and tighten oversight of non-bank providers. The Financial Sector Conduct Authority (FSCA) said new capital and clearing requirements could be implemented within the next three years. Central Clearing on the Horizon FSCA Commissioner Unathi Kamlana said the regulator plans to require certain OTC products to be cleared through a central counterparty. The move, he noted, is aimed at improving transparency and preventing hidden exposures in a market with an outstanding balance of 44.7 trillion rand ($2.6 trillion). The products under consideration include interest-rate and foreign-exchange swaps, repurchase agreements, and forwards. “That work is on the way, and it’s going to be consulted on by the industry,” Kamlana said. The reforms also target non-bank OTC derivatives providers, which will face tougher capital requirements under the new framework. Regulators want to align their treatment with that of banks and reduce incentives for riskier trades to shift outside the banking sector. The proposals follow a wave of global reviews aimed at preventing destabilising counterparty failures. South Africa began its own process seven years ago, with the FSCA now moving to close gaps identified in earlier studies. Infrastructure Already in Place South Africa has reportedly already licensed one central counterparty, JSE Clear, operated by JSE Ltd., and appointed Strate as a transaction repository. Both are expected to play a central role in the new framework, which will strengthen regulators’ ability to monitor systemic risks. Industry consultation on the proposals is expected to begin soon, with market participants facing a more stringent prudential environment once the rules come into force. You may also find interesting: WhatsApp Investment Scam Masquerading as Johannesburg Stock Exchange Triggers FSCA Warning Meanwhile, South Africa’s financial regulator recently cautioned the public about a fraudulent investment scheme that is using the Johannesburg Stock Exchange name on WhatsApp to entice investors. The Financial Sector Conduct Authority said Octodec has been falsely presenting itself as connected to the JSE, South Africa’s only licensed securities exchange. The JSE, through its legal representatives, confirmed that no such affiliation exists and distanced itself from the company’s activities. The regulator warned that this kind of misrepresentation is illegal and urged investors to remain vigilant against schemes that claim ties to licensed exchanges. 2173 Articles 42 Followers Jared is an experienced financial journalist passionate about all things forex and CFDs. 2173 Articles 42 Followers Finance Magnates Daily Update Get all the top financial news delivered straight to your inbox. Stay informed, stay ahead. Keep Reading More from the Author BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown BaFin Wants Brokers to Stress-Test Systems After April Trading Breakdown Monday, 25/08/2025 | 12:35 GMT Revolut, EXANTE, N26, and More: Executive Moves of the Week Revolut, EXANTE, N26, and More: Executive Moves of the Week Revolut, EXANTE, N26, and More: Executive Moves of the Week Revolut, EXANTE, N26,

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Euro (EUR) is likely to consolidate between 1.1665 and 1.1745. In the longer run, increase in upward momentum is not enough to indicate a sustained rise; EUR must first close above 1.1745, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Upward momentum is not enough to indicate a sustained ris 24-HOUR VIEW: “After EUR dropped to a low of 1.1598 last Thursday, we highlighted on Friday, when it was at 1.1615, that it ‘could drop below the 1.1595 support level, potentially testing 1.1575.’ EUR subsequently dropped to a low of 1.1581. During the NY session, EUR took off and rallied to a high of 1.1742, closing at 1.1715, up sharply by 0.95%. The sharp rally appears to be overstretched, and instead of continuing to rise, EUR is more likely to consolidate between 1.1665 and 1.1745.” 1-3 WEEKS VIEW: “We turned negative on EUR last Wednesday (20 Aug, spot at 1.1645), indicating that it ‘could edge lower and test 1.1595.’ After EUR fell to a low of 1.1598, we highlighted on Friday (22 August, spot at 1.1615) that ‘for a continued decline, EUR must first close below 1.1595.’ We added, ‘the likelihood of EUR closing below 1.1595 will remain intact as long as 1.1675 (‘strong resistance’) is not breached.’ We did not expect EUR to drop to 1.1581 and then surge to a high of 1.1742. This time around, the increase in upward momentum is not enough to indicate a sustained rise. For EUR to continue to rise, it must first close above 1.1745. The odds of EUR closing above 1.1745 will increase over the next few days, as long as the ‘strong support’ level, now at 1.1630, remains intact. Looking ahead, should EUR close above 1.1745, it would increase the probability of an advance above 1.1790.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

Fading optimism over a Russia-Ukraine peace is providing support for European Gas prices, ING’s commodity experts Ewa Manthey and Warren Patterson note. Overall storage remains 5.8% above the 5-year average “At the same time, concerns over flows to Europe amid upcoming Norwegian maintenance will also provide support to the market. Front-month Title Transfer Facility (TTF) futures managed to settle more than 8% higher over the week. EU Gas storage is close to 76% full, below the 91% seen at the same stage last year and lower than the 83% 5-year average.” “US natural Gas has been more bearish, with Henry Hub down 7.5% over the last week and settling at its lowest level since October 2024. This is despite last week’s storage build coming in below average. However, overall storage remains 5.8% above the 5-year average, while we are moving towards a period where we expect to see reduced cooling demand. This is allowing for larger storage builds ahead of the 2025/2026 winter.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

The Euro extends its recovery against the British Pound amid an increasing bullish momentum. ECB Lagarde’s upbeat comments in Jackson Hole have provided some support to the Euro. EUR/GBP is on a positive trend, aiming for 0.8680 ahead of 0.8710. The Euro bounced up from the bottom of the last six weeks’ trading range near 0.8600 against the British Pound last week, and the pair remains biased higher on Monday, despite a slight daily pullback which, so far, remains contained above 0.8660 The European Central Bank President, Christine Lagarde, showed a confident view about the Eurozone economy at the Jackson Hole Symposium over the weekend. Lagarde highlighted the strong performance of the Eurozone’s labour market in the face of an uncertain economic environment, which has provided some support to the Euro. On Monday, the German IFO Business Climate data posted an unexpected increase, amid a mild improvement in the near-term economic expectations among German firms, although the impact on the Euro has been minimal. Technical Analysis: Trending higher within range The EUR/GBP technical picture shows the pair under a renewed bullish momentum after bouncing from the bottom of the last six weeks’ trading range, at the 0.8600 area. Technical indicators are pointing higher, with the RSI near 60.00, suggesting scope for further appreciation. Recent price action suggests that a Gartley harmonic Pattern is in process, with bulls aiming for the August 5 support area, near 0.8680 and the 61.8% Fibonacci retracement of the early August drop, at 0.8685. Further up, the 78.6% Fibonacci level of the same bearish cycle, right above 0.8700, is a common target for corrections. To the downside, immediate support is at the 0.8640-0.8650 area, where bears were contained on August 21 and 22, ahead of the key support area below 0.8595 and 0.8610. Below here, bears would be back in charge, aiming for the July 1 low, at 0.8555.   Pound Sterling Price Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Euro. USD EUR GBP JPY CAD AUD NZD CHF USD 0.31% 0.22% 0.40% 0.08% 0.05% 0.15% 0.17% EUR -0.31% -0.09% 0.03% -0.23% -0.19% -0.17% -0.14% GBP -0.22% 0.09% -0.02% -0.14% -0.16% -0.08% -0.05% JPY -0.40% -0.03% 0.02% -0.26% -0.32% -0.18% -0.11% CAD -0.08% 0.23% 0.14% 0.26% -0.01% 0.10% 0.09% AUD -0.05% 0.19% 0.16% 0.32% 0.01% 0.09% 0.11% NZD -0.15% 0.17% 0.08% 0.18% -0.10% -0.09% 0.02% CHF -0.17% 0.14% 0.05% 0.11% -0.09% -0.11% -0.02% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote). Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Read More

The Pound Sterling gives back some Fed Powell’s dovish remarks-driven gains against the US Dollar. Fed’s Powell warns of downside labor market risks at Jackson Hole Symposium. BoE’s Bailey states acute challenges in the UK economy due to reduced labor force participation. The Pound Sterling (GBP) corrects to near 1.3480 against the US Dollar (USD) from its Friday’s high of 1.3544 during the European trading session on Monday. The GBP/USD pair gained sharply on Friday as comments from Federal Reserve (Fed) Chair Jerome Powell, in his speech at the Jackson Hole Symposium on Friday, signaled that he has turned dovish on the interest rate outlook. Investors had anticipated that Powell would reiterate a “wait and see” approach on interest rates. However, a surprise dovish tone increased the risk appetite of investors significantly. However, the US Dollar and US Treasury yields have come under pressure. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, posted a fresh, almost four-week low around 97.60. 10-year US Treasury Yields declined to 4.24%. At the time of writing, the DXY has rebounded to near 98.00. Meanwhile, investors brace for a less volatile trading day for the Pound Sterling as the United Kingdom (UK) markets are closed on Monday on account of the Summer Bank Holiday. Pound Sterling Price Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Euro. USD EUR GBP JPY CAD AUD NZD CHF USD 0.23% 0.16% 0.29% 0.04% 0.02% 0.08% 0.10% EUR -0.23% -0.08% 0.00% -0.19% -0.15% -0.15% -0.13% GBP -0.16% 0.08% -0.08% -0.11% -0.13% -0.07% -0.05% JPY -0.29% 0.00% 0.08% -0.19% -0.24% -0.14% -0.07% CAD -0.04% 0.19% 0.11% 0.19% -0.00% 0.07% 0.06% AUD -0.02% 0.15% 0.13% 0.24% 0.00% 0.06% 0.08% NZD -0.08% 0.15% 0.07% 0.14% -0.07% -0.06% 0.02% CHF -0.10% 0.13% 0.05% 0.07% -0.06% -0.08% -0.02% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote). Pound Sterling surrenders some Powell’s dovish comments-driven gains against US Dollar The Pound Sterling is broadly firm against the US Dollar as Fed’s Powell has signaled that he is open to unwinding monetary policy restrictiveness. On Friday, Fed Chair Powell said, “Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Powell warned of growing labor market concerns, which are paving the way for monetary policy adjustments. “Downside risks to employment are rising, and if those risks materialize, they can do so quickly,” Powell said. A dovish commentary from Fed’s Powell was surprising for financial market participants as they were anticipating that he would reiterate the need to hold interest rates at their current levels until officials get clarity on whether the impact of tariffs on inflation would be one-time or persistent. However, Powell clarified that unfolding tariff risks on inflation don’t appear to be long-term. “Possible that tariff-driven upward pressure on prices could spur lasting inflation dynamic, but unlikely, given downside risks to the labor market,” Powell said. For fresh cues on inflation, investors will focus on the US Personal Consumption Expenditure Price Index (PCE) data for July, which is scheduled to be released on Friday. Currently, traders are confident that the Fed will cut interest rates in the September policy meeting, according to the CME FedWatch tool. On Friday, Bank of England (BoE) Governor Andrew Bailey also participated in the Jackson Hole Symposium and stated “acute challenges” faced by the UK economy. Bailey said that the economy is under pressure due to weak underlying growth amid reduced labor force participation since the Covid-19 pandemic. He warned that labor issues will stay for longer as “ageing is not going to turn around in the foreseeable future”, Reuters reported. Technical Analysis: Pound Sterling forms an inverse H&S formation The Pound Sterling trades firmly above 1.3500 against the US Dollar at the start of the week. The near-term trend of the GBP/USD pair has turned bullish as it has returned above the 20-day Exponential Moving Average (EMA), which trades around 1.3466. The Cable is also forming an inverse Head and Shoulder (H&S) chart pattern, which leads to a bullish reversal after a corrective or downside move. The neckline of the H&S pattern is placed around 1.3580. The 14-day Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, suggesting a sharp volatility contraction. Looking down, the August 11 low of 1.3400 will act as a key support zone. On the upside, the July 1 high near 1.3790 will act as a key barrier. Fed FAQs Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis. In extreme situations, the