LONDON (Reuters) - Although a better economy is helping global banks to turn the corner a decade after the financial crisis began, euro zone lenders remain a dampener on the sector's recovery, the Bank for International Settlements said on Sunday.
London is facing renewed pressure over its dominance of the €1tn (�880bn)-a-day euro clearing market after the European Central Bank set out proposals aimed at giving it more oversight of the lucrative business.
Analysts at Lloyds Bank have downgraded their forecast for the pound to euro exchange rate for the rest of 2017 and 2018. The high-street giant says the political uncertainty and the stabilisation of the Eurozone are bad news for the pound.
The European Central Bank's has pushed to take charge of supervising the lucrative business line of clearing euro trades, days after Brussels called for powers to force parts of London's clearing business to relocate to the EU after Brexit.
France's top central banker has thrown his weight behind calls from the European Commission to move oversight of the lucrative trade in clearing euro-denominated securities from London to within the single-currency area after Brexit. Fran�ois Villeroy ...
Arguably the greatest drag on the euro, however, are new comments from the European Central Bank president Mario Draghi who stressed the bloc still needs “an extraordinary amount of monetary support” in spite of its growing economic recovery.