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A mercifully quieter start for currencies.....>

FOREX
FOREX: A mercifully quieter start for currencies on final full trading day of
the week
-After another drubbing in cash markets Wednesday, US equities are on track for
a modest recovery at the open today, somewhat helping stem the risk-off
sentiment in currency markets also. This has pressed the JPY lower today,
helping assist USD/JPY back toward the Y113 mark and lift high beta FX toward
the top of the pile.
-With today's session the final full trading day of the week for US markets,
particular focus may be given to the various fixes, with volumes and liquidity
expected to dim tomorrow and Friday.
-Despite the recovery in risk appetite, GBP has failed to benefit and sits above
only the JPY in European morning trade. While rumours and expectations of a
leadership challenge against PM May appear to have been squashed, GBP/USD sits
very close to the recent cycle lows at $1.2724.
-Focus turns to US weekly jobs and durable goods data and a speech from BoE's
Carney.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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