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FOREX SUMMARY

FOREX

USD remains on the backfoot.

  • EURUSD tested immediate resistance at 1.2305 1.764 proj of Nov 4 - 9 rally from the Nov 11 low.
  • Some broader base buying went through going into 14.00GMT/09.00ET,
  • The pair has since reversed on ECB Rehn: "We monitor exchange rate developments very closely and we will continue to do so in the future"
  • EURUSD is now at 1.2285 at the time of typing.
  • Focus this afternoon was on the UK, with Boris winning the first parliament vote on the Brexit deal.
  • Matt Hancock stated that stated that the Midlands North East and areas of the North West and the South East have been moved to the highest tier
  • Cable has been unaffected with pair trading around 1.3600, on the weaker dollar
  • Looking ahead, Speaker Pelosi weekly news conference, and Boris Johnson presser at 17.00GMT/10.00ET
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