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GBP on top as markets eye customs.............>

FOREX
FOREX: GBP on top as markets eye customs compromise
-GBP/USD rallied to touch the 200-dma at $1.3560 on reports that UK may retain
customs union rules beyond the transition period cut-off date, thereby solving
the near-term complications of the Irish border. As a result, both GBP and UK
yields traded higher Thursday.
-The JPY was one of the weaker currencies as equity markets in Europe and the US
traded higher, allowing USD/JPY to maintain the positive momentum after two
consecutive closes above the 200-dma. Today's Y110.86 print marks the highest
for the pair since late January.
-A tightening of the IT/GE 10y yield spread has helped EUR against most others
today, but the pair still remains focused on the extent to which the prospective
Italian coalition will carry out some of their more controversial policies.
Nonetheless, the upside in EUR/USD was countered somewhat by the continued rise
in US yields.
-Focus turns to Japanese CPI figures and Canadian CPI & retail sales figures due
Friday.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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