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Forex summary

FOREX

A fairly light turnovers session for FX, given the festive period.

  • USD leads FX, with the Dollar trading in the red against all G10s.
  • US stimulus and Brexit done has kept risk buoyed.
  • The Pound was initially the best performing currency in G10 versus the USD, up 0.5% in early trade, but Cable has since pared some of its gains, now up just 0.23%.
  • No Fundamentals, or new story headlines, and more likely order flow related to explain the pullback in Cable, as move are exacerbated by low turnovers.
  • Cable runs at 22% of the 5 day averages.
  • SEK leads gains, up 0.62% against the Dollar, taking its cue from the risk on tone.
  • Looking ahead, we have no data of note.
  • Some focus on Month/Year end with liquidity likely to dissipate by tomorrow.
  • Desk here expects for some moderate USD selling into year end.
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