The big story in FX today has been the move...>

FOREX: The big story in FX today has been the move in sterling, the market

reacting to further comments from Germany Merkel and France Macron that they

look forward to seeing solutions from the UK regarding the backstop in the next

30 days. The pound took another leg higher, GBPUSD broke to its highest level

this month of $1.2273 while EURGBP fell back to trend line support at 0.9030. 

- SEK was the only other other notable mover. EURSEK bounced off a traded low of

Sek10.6512 to Sek10.7329 as the krona changed course and pared some of its

recent gains. 

- Elsewhere in G10, moves were much more limited, the other major crosses

largely unchanged compared to 24 hours ago. This was in spite of some volatility

seen throughout the day on the back of a number of Fed TV interviews and

comments from the Bundesbank that fiscal stimulus is not necessary in Germany.

- Markets await Fed Chair Jay Powell's comments at Jackson Hole Friday (1500GMT)

to provide further direction.

- TRY continued its recent weakening, USDTRY was 1.25% higher on the day when it

touched Try5.7906, but was consolidating around Try5.76 into the close.