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FOREX
FOREX: Sterling soft ahead of BoJo 'final' offer
-The UK PM is set to outline his 'final' offer to the European Union at his
closing speech to the Conservative Party Conference Wednesday. The speech is
expected to outline more power for the North Irish Assembly, extra customs
checks and a definitive time period for the Northern Irish backstop. There's no
set time for the conference speech, but the PM is expected on stage at around
1140BST/0640ET. A firm rebuttal from EU representatives is already anticipated,
with the Irish foreign minister already stating he is "not too encouraged" by
the UK offer on the backstop, which he describes as "concerning to say the
least".
-JPY is the strongest in G10 so far, extending the move seen Tuesday, with
USD/JPY extending losses on the break below Y107.77. Support next seen at the
50-dma and late September lows at Y107.07/106.96.
-US ADP employment change will be the data highlight for the Wednesday session,
which may take extra focus given the poor employment component of yesterday's
ISM data. Speeches are also due from Fed's Harker, Barkin and Williams.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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