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Auction Details

MNI (London)
EURO-DOLLAR: Corrective pullback away from Monday's high of $1.1179 continued
Tuesday as rate eased to $1.1118, the move down, like the recent push up,
seemingly taking its lead from sterling. Sterling has been pressed lower by last
night's voting in the UK parliament. PM Johnson's Withdrawl Bill did pass but
the rejection of the planned timetable is seen delaying Brexit, with threats now
of a No-deal or a general election. The Brexit vote was seen affecting risk
across the board in Asia with renewed pressure on EUR/USD taking it to an
extended low of $1.1116 (off a late NY recovery high of $1.1136 and early Asia
high of $1.1131). Demand has emerged into Europe that has lifted rate back to
$1.1128, holding firm at writing. Asian traders have suggested option linked
support in place ahead of $1.1100, with resistance noted at and above $1.1170. 
- France Sentiment Indicators released at 0645GMT, EU Consumer Confidence at
- Brexit developments to remain a driver via sterling moves. 
MNI London Bureau | +44 203-586-2231 |