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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FOREX
- In the past week, the renewed restrictions imposed by the European governments to limit the downside risk of another wave of infection has been supporting 'safe' assets such as the USD.
- In addition, the rise in volatility has been weighing on risk-on currency GBP, which has historically been the worst performing G10 currencies when volatility rises (see chart)
- As as a reminder, GBPUSD fell by 13.5% during the March 2020 panic to a low of 1.1412 when the VIX exploded.
- Next support to watch on GBPUSD stands at 1.3250, which corresponds to the low of its LT downward trending channel.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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