Bank of America close to $17 billion settlement

Source: Bloomberg
Bank of America is negotiating a settlement with the US Department of Justice around the 16, 17 billion US dollar mark. The record agreement to stop probes into mortgage-backed bonds could send as much as $9 billion in cash and the remainder in consumer relief. If this settlement is successful then it will become the largest in history surpassing the recent JPMorgan's $13 billion deal.
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Thu, 07 Aug 2014 09:52:07 GMT

Yen drops after impulsive rise

The Japanese Yen fell against the other majors, after suddenly rising due to concerns regarding the ongoing tension in Ukraine. The US Dollar rose to 102.37 from 102.1 against the Yen. As to the common currency, the Yen dropped to 137.03 from 136.65. However, traders are still on hold as they wait for Mario Draghi's speech later today.

Thu, 07 Aug 2014 09:30:08 GMT

WTI falls ahead of Chinese data

While waiting for Chinese data regarding its trade, which is an important indicator of the strength of the economy, the WTI crude ranged close to its lowest value in six months. Meanwhile, the Brent crude remained steady. On the NYME WTI futures dropped to 96.86 a barrel.

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