Free Trial

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 Stronger Across the Board


Markets consolidated slightly Tuesday, with equity markets mulling over the sharp rally (and sharp retracement) on Monday. Equities in Europe posted decent gains, with the EuroStoxx50 closing higher by just over 1%. US cash markets, however, traded either side of unchanged. Volumes were, unsurprisingly, lacklustre relative to the activity seen Monday.

GBP was the best performer Tuesday, getting some support as markets rush to price out the likelihood of lower rates in the UK next year (driven by Monday's vaccine-induced rally), and could be benefitting from resistance in the House of Lords late Monday to the government's Internal Markets Bill, which could make including the elements that run against international law more difficult. EUR/GBP slipped below the 200-dma for the first time since May.

Market activity and volumes could prove slightly muted Wednesday, with US markets (notably fixed income) seeing a partial close for the Veterans Day holidays. This will leave focus on the RBNZ rate decision, where the bank are seen keeping policy rates unchanged as well as a speech from ECB President Lagarde, who kicks off the ECB forum on central banking.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

To read the full story

Why Subscribe to

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.