Free Trial

Brexit headlines still pack a punch...........>

FOREX
FOREX: Brexit headlines still pack a punch
-GBP/USD heads for its third consecutive session of losses as Brexit headlines
weigh on the pound. The pair gained some (brief) reprieve on source-based FT
reports that a Brexit deal is almost ready before denials and pessimism kicked
in ahead of the close. As a result, GBP is comfortably the poorest performer of
the day. GBP/USD's recent cycle low at $1.2696 is now within range.
-Independent of this, Italy woes hurt the single currency as the country's
deputy PM reasserted his view that the Italian government can halt any EU budget
decisions and other policies if they refuse to respect domestic spending plans.
EUR/USD spilled below $1.13 for the first time since mid-2017 and made little
attempt to reclaim.
-A poor showing from US equities in a holiday-thinned session helped underpin
the JPY, USD and CHF.
-Focus turns to UK jobs report, German ZEW data and speeches from ECB's Praet,
Lautenschlaeger and de Guindos with Fedspeak provided by Kashkari, Brainard and
Harker.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.