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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans
MNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
Slowly recouping overnight losses, which...>
STERLING: Slowly recouping overnight losses, which had seen the pound under
further Brexit related pressure led by strong sales of Gbp/JPY. Break of $1.2200
in cable, which was seen triggering further sales in this pair, GBP/JPY
targeting, and taking out its Jan3 low of Gbp131.70 to touch Y131.61, while
EUR/GBP extended its rise before meeting resistance at the top of its 2.0%
10-dma envelope at Gbp0.9190. Thin Asian conditions linked to the deeper
sterling losses, though Europe looking reluctant to correct the overnight moves.
Cable edged to $1.2159, currently around $1.2148, GBP/JPY managed to claw its
way back up to Y132.07, currently around Y131.90, while EUR/GBP trades back at
Gbp0.9167.
- Month end approaching and EUR/GBP could draw its usual demand interest, though
this might see some counter from month-end cable demand. Citi's prelim month-end
model, based on assets, suggests cable demand could emerge. Citi release their
final model call Wednesday.
To read the full story
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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.