Free Trial

Comments carried by one newswire that.........>

FOREX
FOREX: Comments carried by one newswire that British & German gov'ts have
abandoned key Brexit demands, potentially easing the path for Britain to strike
a deal with the EU, saw cable spike to $1.2983 on Weds, pressuring EUR/GBP to
GBP0.8956. Later German Gov't spokesman comments noting that its position on
Brexit remains unch. dropped cable to $1.2873, before the rate reclaimed
$1.2900. Cable drove EUR/USD up to $1.1640 where it hit resistance, with profit
taking squeezing back toward $1.1600, before a late uptick to $1.1630.
- AUD/USD was pressured by the positive USD tone early, perhaps also hindered by
the AU savings rate falling to a near 11 year low, with questions re: growth
sustainability emerging after the strong AU GDP reading. The rate registered a
fresh cycle low ($0.7145), but recovered as the USD weakened.
- USD/CAD stuck to a tight range post-BOC as the Bank left rates unch. as exp.,
but signalled a greater confidence in the need for higher interest rates ahead.
- The Riksbank MonPol decision, Fed's Williams, BOJ's Kataoka, ECB's
Lautenschlaeger & BOC's Wilkins headline on Thursday, with eyes on the upcoming
imposition of addition U.S. tariffs on China.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@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.