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EUR has seen broader base selling during our early European session.

  • The currency touched low of the session against USD, GBP, CNH, CAD, JPY, AUD and is underperforming against all majors besides the SEK
  • GBP came under early pressure following report that EU envoys briefed that the UK hasn't moved on 3 main hurdles.
  • Cable moved from 1.3269 down to 1.3251, but since recovered after a round of Equity buying hit our screens, with the move higher related to index option expiry.
  • Cable is back at 1.3272 at the time of typing
  • AUDNZD resumed its downside momentum through lowest levels seen since April 2018, but failed to break the psychological 1.0500 area.
  • Looking ahead, we have no data of note, although we still have few more speakers scheduled, including ECB Weidmann, and Fed Kaplan, Barkin and George.
  • ALL EYES remains squarely on Brexit, Covid, and US Election certification count going into next week

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