Former CFTC Chair Chris Giancarlo and AFX Chairman Richard Sandor on LIBOR issues and STIR benchmark alternatives.

Richard Sandor, the CEO of the American Financial Exchange (AFX) sees a more diverse outcome for the interest rate benchmark used to set trillions in global interest rates on everything from mortgages to credit cards. The “father of financial futures” sees a world in which a variety of interest rate benchmarks operate. AFX exchange created a LIBOR alternative, AMERIBOR, which he says better represents US interest rates for regional and community banks and will trade on the CBOE Futures Exchange (CFE).

The Bank of Japan rounded off a busy week for central banks earlier today.

The dollar once again fell against the euro and the pound even though the monthly jobs report surprised to the upside and the probability of a June rate hike rose to 100%.

The U.S. dollar and Treasury yields across the curve bounced higher after the Fed signaled that a June rate hike is still on the way.

The Federal Reserve's plans to raise U.S. interest rates gradually are aimed at sustaining full employment and near-2% inflation without letting the economy overheat, Fed Chair Janet Yellen said on Monday.

Oil prices, down for a fifth straight day on Monday, were an outlier in a relatively calm start to an event-packed week for global markets as investors braced for a potential interest rate hike in the United States, a Dutch election and the first G20 finance ministers' meeting of the Trump era.

The market expectations of a probable U.S. interest rate increase in March were fully cemented by February’s solid NFP headline figure of 235k which illustrated steady growth in the U.S. labor markets.

The Federal Reserve will likely have to raise interest rates more rapidly than financial markets currently expect given that any new policies by the Trump administration, while uncertain, will force the Fed's hand, a hawkish central banker said on Tuesday.