currency

The sharp drop in the UK unemployment rate and mounting expectations of a 2014 rate hike pushed sterling to a two-year high versus the US dollar in morning trading.

Sterling hit a five-year high on Monday as data from the UK's manufacturing sector came in stronger than expected.

Barclays has reportedly suspended six traders as part of an internal investigation into alleged price fixing within foreign exchange markets.

CURRENCIES

The Financial Conduct Authority (FCA) has confirmed it is investigating firms in relation to trading on the foreign exchange market.

Neil Staines, head of trading for the ECU Group, assesses the impact of recent global policies on currency markets.

The leaders of the BRICS countries - Brazil, Russia, India, China and South Africa - are planning a $100bn (£65bn) fund to protect against financial shocks.

Asian stocks jumped today as India installed a new central bank governor with ambitious plans to stabilise the falling rupee and support the banking sector.

Should advisers worry about FX?

The Indian rupee has plummeted to a record low as the soaring oil price and internal economic problems continue to derail growth.