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Markets definitely have a look of trading.....>

FOREX
MNI (London)
FOREX: Markets definitely have a look of trading fatigue, though the USD has
been able to hold on to a good part of its weekly gains thus far. USD/JPY
managed to touch Y111.01 in Asian trade but move met strong headwinds above
Y111.00 and has since eased off toward Y110.80. Asian traders suggested that a
move above Y111.20 could provide the catalyst for the next leg higher. EUR/USD
managed to extend its recovery off Thursday lows of $1.1777 to $1.1822 in early
Europe, though momentum not too inspiring. Sterling a little on the back foot as
market awaits developments in the border proposals for Ireland after Brexit,
headlines suggesting an extension to the customs union beyond 2021 whipped
sterling markets around Thursday. Cable holds above $1.3500 but level looks
vulnerable.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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