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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.
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Free Access*** Budget analysis and Brexit comment........>
CABLE: *** Budget analysis and Brexit comment weighs on sterling.
Press analysis pulling apart Chancellor Hammond's Budget and Irish claims UK
Brexit negotiations are chaotic acted to weigh back against sterling in Asia and
into Europe. Eur/Gbp managed to extend recent recovery to Gbp0.8921 overnight,
which in turn pressed cable down to $1.3288. Usd demand in early Europe has seen
cable break under Thursday's low of $1.3285, extending to $1.3278(daily cloud
top) where it met decent demand. Rate currently trades back at $1.3295. Recovery
in cable, whilst Eur/Usd sits just off its earlier low of $1.1837 allows the
cross to ease back to Gbp0.8905. Talk of algo stops in place below $1.3278.
* PM May meets with EU Tusk today. Suggestion May to outline improved divorce
bill offer.
* UK Finance Loans for Housing data at 0930GMT.
- Germany Ifo at 0900GMT, could more influential via Eur/Gbp. Belgium Business
data strong Thursday, usually an Ifo signal.
* Options: EUR/GBP: Gbp0.8885(E286mn)
To read the full story
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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.