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Pound outperforms

FOREX
  • Most of the action has been in FX this morning, albeit in lower turnovers, and mainly in the Pound.
  • Cable traded through the December high and now look to test next resistance at at 1.3414 50-day EMA.
  • The British Pound has been underpinned as Boris is set to save Christmas from any restrictions, and will wait until next week for further hospitalisation data to give a clearer picture.
  • Elsewhere it has been a more subdued, range bound session across FX pairs.
  • USD is mixed in G10, down 0.37% against the GBP, and up 0.35% versus the SEK.
  • EURUSD remains in a 31 pips range with some focus on large option expiry at 1.1300 for today in the tone of 1.41bn.
  • Looking ahead, last set of data in focus come from the US, with PCE core deflator and prelim Durable goods,
  • Note for the US exchange markets close today is at 13.00ET/18.00GMT and US are closed tomorrow.
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