FOREX SUMMARY

A much calmer afternoon session for FX.

• The EUR has given back some of its gains in G10, but still in positive territory, beside AUD, NZD and NOK.
• GBP has taken its cue from EUR and USD price action, with Brexit at the forefront.
• Cable is now trading at mid range level 1.2814.
• USDCAD made an attempt at initial resistance noted at 1.3202, but we only managed to print a 1.3195 high, following continuation selling in WTI.
• The commodity has recovered and USDCAD sits at 1.3182 at the time of typing.
• EMFX has seen the Rand really outperforming, taking back some its losses from yesterday
• The Rand is up 0.89% versus the JPY in G10, and 1.70% against the ILS in EMFX
• USDZAR unwound some of yesterday's rally despite the large contraction in the SA GDP and up 0.89% versus the Greenback.
• Looking ahead, Big week in parliament, with the second reading of the UK Internal Market Bill on Monday 14th, then debate and scrutiny of it on Tuesday and Wednesday.