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FOREX SUMMARY: GBP selling continuation

FOREX
  • Better GBP selling is the main story in the early European session.
  • Boris Johnson will give the European Union just 38 days to strike a Brexit deal (telegraph).Boris threatens to walk away from talks and pursue an "Australian-style" trade arrangement.
  • GBP is Underperforming the most against CHF down circa 0.77% in G10, and versus the KRW in majors, down 0.81%.
  • USD saw small better buying this morning, despite Equities holding onto gains, but turnovers have been on the low side, and should remain that way, with the US out on Labour Day.
  • USDTRY continues to trade at record high, today at 7.4606.
  • EURTRY is also at the high of the day, ahead of the all time high at 8.8465 printed on the 1st of Sep.
  • Turkey Maritime Dispute, Economy and Reserves continues to weigh.
  • Looking ahead, we have no data scheduled, and in terms of speaker BOE's Haskel Speaks at a European Commission Event.
  • Most of the focus remains on Brexit talks, which are resuming tomorrow and the ECB Thursday.
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