Free Trial
OPTIONS

Larger FX Option Pipeline

EGB SYNDICATION

Austria triple tranche mandate

COPPER TECHS

(H2) Testing The 50-Day EMA

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
FOREX
FOREX: Sterling scrambles as EU inch closer to concessions - apparently
-After taking a drubbing for much of the trading day, GBP burst higher after the
London close as Bloomberg reported that the EU would be willing to consider a
time limit on the Irish backstop as part of any Brexit deal - according to
sources. Such a move would be a major concession and could help PM Johnson
garner more votes in Parliament on any withdrawal arrangement. GBP/USD surged
back above the $1.2300 level after edging below the 50-dma, defying the risk of
a bearish breakout given the recent sell-off.
-The greenback took a sharp knock after originally outperforming as ISM
Manufacturing fell well below forecast. The employment component was
particularly weak, dropping to a three-year low ahead of the Nonfarm Payrolls
report this Friday. Risk-off moves followed in FX, prompting USD/JPY to fall to
a fresh weekly low of Y107.63.
-UK Construction PMI and US ADP Employment Change are the data highlights
Wednesday. Speeches are also due from Barkin, Harker and Williams of the Fed and
ECB's Villeroy.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Sign up now for free access to this content.

Please enter your details below and select your areas of interest.