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GBP has been the underperformer among the.....>

FOREX
FOREX: GBP has been the underperformer among the majors in early dealing this
week, on the back of the latest developments re: Brexit. Discussions between UK
Brexit Sec. Raab & the EU chief negotiator Barnier took place on Sunday, which
ultimately failed to break the current deadlock in negotiations. Talks have
reportedly been suspended until Wednesday's EU Summit dinner, with Barnier
noting that "despite intense efforts, some key issues are still open, including
the backstop to avoid a hard Irish border."
- JPY strength has also been evident, supported by the broader risk off tone
emanating from simmering U.S.-Saudi tensions. 
- Elsewhere the USD has experienced some modest outperformance vs. most of its
major peers, with the EUR pressured by the Italian budget situation & the latest
German regional election in the state of Bavaria.
- NOK has benefitted from the uptick in oil prices.
- Highlights today include U.S. retail sales, Italy submitting its budget to the
EU, the BoC quarterly business survey & an address from ECB's de Guindos.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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