Free Trial

Sterling Remains Vulnerable to Negative Brexit Comment

GBP
MNI (London)
  • Sterling takes a knock as traders react to comment from the Irish Foreign Minister that 'fish is a more difficult issue than level playing field' (RTRS).
  • GBP/USD gets knocked back from above $1.3350 to $1.3305, having earlier found buoyancy from positive press reports concerning the Brexit negotiations.
  • Support seen at $1.3293/89(Nov23-20 lows respectively), a break to expose $1.3264.
  • Month-end expected to produce USD sales and could counter current downside pressure, but Brexit headlines remain the key directional driver.
  • EUR/GBP seen heading back toward the Gbp0.9000 level, with the top of its 1.0% 10-dma envelope close behind at Gbp0.9022.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

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.