Trial now

Consolidating But Remains Bullish


Recovering, But Not Through Resistance


Consolidation Mode


Bearish Threat Remains, Despite Intraday Rally

MNI (London)
FOREX: Early Asia risk appetite(on US Trump comments on Turkey-Syria situation)
quickly reversed as Tokyo returned from their public holiday Tuesday. Reaction
seen as British MPs made the Brexit process brake hard on its helter skelter
Tuesday as they rejected PM Johnson's hyper-speed timetable for adopting
relevant legislation. This puts the UK on course for another Brexit delay and
perhaps a general election. EU Council Pres Tusk he will recommend EU leaders to
give a nod for extension. Cable extended Tuesday's corrective pullback($1.2862)
as it eased to $1.2841 but again sterling found demand interest emerging into
the dips which has kept it buoyed in Europe. A UK general election could favour
sterling as current polls suggest a decent Conservative majority. 
- Safe haven currencies attracted inflows in Asia but interest faded in Europe.
USD/JPY was pressed to a low of Y108.25 as Tokyo reopened, settled around
Y108.35 in Europe. Option interest at Y108 and Y109 suggested to keep rate
hemmed in.  
- EZ consumer confidence at 1400GMT. Main focus on risk developments. UK PM
Questions at 1100GMT. 
MNI London Bureau | +44 203-586-2231 |