FOREX SUMMARY

USD leads the way, as the Greenback trade towards best levels since Friday.

• USD is outperforming the most against the NOK, up 0.53% in G10 and the Rand, up 0.71% in EM.
• The main story though, was the continued selling in the British pound on Brexit concerns.
• Brexit talks are set to begin this afternoon and all day tomorrow, and an expected meeting between the chief negotiators on Thursday.
• Cable is at the low of the day 1.3090 at the time of typing.
• Oil dipped towards levels last seen since the end of June.
• Demand outlook concerns and further deterioration in US-China relation, has kept the commodity under pressure.
• CLA has now lost 12.25% since the August high.
• USDCAD, USDNOK and USDRUB edge to their respective highs of the session.
• TRY extends losses, with the AUD the best performing currency in G10 against the latter up 0.56%
• The Turkish Lira is hitting all time lows against all G10
• USDTRY is eye next resistance at 7.4865 (traded 7.4840 high), ahead of psychological 7.50.
• Looking to the rest of the day, nothing of real note in terms of data and no Fed speakers are scheduled.
• Pompeo Speaks on Visit to Europe and Relations with China, and for Rates, US auction $50bn of 3yr