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The British Pound reverses early weakness

FOREX
  • The Dollar moves back in the red against G10s, led by the bounce in Govies and Equities.
  • Volumes and Turnovers are still on the low side, with most Investors and market participants waiting on the US inflation data.
  • The NOK is in the lead against the Greenback, 0.60%, but price action for the Dollar has mostly been mixed.
  • Nothing too surprising with ALL EYES on the US CPI.
  • The British Pound was the early worst performer, but has fully reversed and is on the front foot across most G10s.
  • SEK weakened so far this morning, and despite a beat on the CPI headline, the headline CPIF was in line with the Riksbank forecast. And CPIF ex energy was below both the Riksbank and market expectation.
  • So SEK sits in the red against G10, besides versus the USD and the CHF, although just up 0.08% at the time of typing.
  • Looking ahead, it's all about the US CPI, and the only speaker is ECB Nagel.
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