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USDMXN Remains Above March 2021 Highs

LIBOR

JAPAN FIX - 29/11/21

LIBOR

UK FIX - 29/11/21

CABLE
MNI (London)

Late Asia recovery, which saw cable edge up from an earlier low of $1.3037 to $1.3054 into Europe, took a slight knock from the release of UK Employment data, the 3m/3m claimant count count showing a larger fall than expected, the 3m unemployment rate edging up to 4.5% vs expected 4.3%(using the ONS new adjusted basis), though some of this countered by earnings data. Cable dropped to $1.3043, bounced to $1.3051, currently around $1.3048. Sterling currently enjoying underlying buoyant tone, traders have noted sterling demand into the last three 1600BST fixes, Monday demand taking cable to an extended recovery high of $1.3083 in post fix trade before it settled around $1.3065 through the balance of Monday trade and into early Asia. Risk took a general knock in Asia on reported problems with the J&J COVID-19 vaccine trials though only took cable down to the mentioned low. A light data calendar for the UK Tuesday, BOE Bailey appears at the Lords' Committee at 1500BST with market focussing on mention of negative rates. EU Summit Thu/Fri, with PM Johnson's Brexit deadline also on Thursday. However, hopes that the UK and EU will be able to enter the 'tunnel' and progress in talks with a possible agreement by the end of the year.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com