Free Trial
USDCAD TECHS

Key Support Remains Exposed

AUDUSD TECHS

Pullback Extends, But Still Looks Corrective in Nature

US TSYS

FED Remains in Play Post-NFP/ISM Data

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Sterling Draws Support From UK Fiscal Headlines, Risk-On Flows Intensify

FOREX

The sterling caught a bid, seemingly in a delated reaction to headlines flagging UK Cll'r Kwarteng early departure from the annual IMF talks, as he returns to London to work on fiscal policy. The news fuelled speculation re: another U-turn in UK fiscal plans, with several media outlets suggesting that the government could abandon its plan to cancel a scheduled increase in the corporation tax next year.

  • Cable has added 22 pips and last deals at $1.1347, which filters through into broader USD weakness. The yen is the only worse performer, but USD/JPY is close to erasing its initial gains. The kiwi dollar continues to pace gains in G10 FX space amid relative strength in high-betas, as UK headlines support broader risk appetite.
  • In emerging Asia, USD/CNH is back sub CNH7.1700, after getting close to CNH7.2000 earlier. USD/KRW is sub KRW1430, also aided by higher equities.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.