Free Trial

Cross extended lows Thursday to.......>

EURO-STERLING
MNI (London)
EURO-STERLING: Cross extended lows Thursday to Gbp0.8545 with recovery efforts
so far holding shallow. Sterling received a boost yesterday as two Brexit Party
candidates withdrew from the race, which market saw as increasing PM Johnson's
Conservative chance to win the upcoming election with a workable majority. Rate
has retained a heavy feel, recovery efforts holding below a falling trend
resistance line, drawn off the Oct10 high which comes through today at
Gbp0.8564. Rate remains between the base of its 1.0% 10-dma envelope at
Gbp0.8506 and the 10-dma which currently comes through at Gbp0.8592. Whilst rate
holds below this latter level seen keeping the recent bearish tone in place.
Election/Brexit remains the key driver of sterling direction. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@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.