Sterling at risk of reversal -After a spell...>

FOREX: Sterling at risk of reversal

-After a spell of poor performance, GBP raised the risk of a reversal Friday

morning as markets sold GBP/USD in response to a speech from BoE's Saunders, who

has tilted hawkish in recent years. Saunders raised the prospect of BoE easing,

stating that the UK may need further rate cuts even if a Brexit deal is secured,

which helped pressure GBP/USD to shed around 60 pips and home in on the 50-dma

at $1.2266.

-AUD trades toward the top end of the Friday table, despite a notable downtick

in precious metals prices. The losses seemed to stem initially from spot Silver,

which pressed through the 17.4750 50-dma and filtered through to gold also.

-Eurozone economic confidence data came and went with little effect, but

continues to highlight the lack of a turnaround in confidence despite ECB

easing.

-US data takes focus from here, with personal income/spending, PCE and durable

goods all due for release. Speeches are also due from Fed's Quarles & Harker and

ECB's Lane and de Cos.