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Commodity-Tied Dollar Bloc Leads


Cheaper On Wider Impetus


YM Off Lows, Trouble Staying Offered In Wake Of GDP


VIEW: BNP Paribas: Faster Tapering


Some Light Selling Seen

FOREX: UK election fog started to clear
-Sterling had a decent session as markets anticipated a lifting of the
parliamentary fog as lawmakers looked poised to approve a pre-Christmas General
Election, with just the specific day of the vote still left to decide. GBP/USD
briefly showed above $1.29 in response, but ranges were largely contained. NOK
had an interesting session, hitting fresh record lows against the EUR. Weaker
oil markets and ongoing expectations of excess liquidity in Norway were the
-Elsewhere, a decent bout of volatility followed a Reuters report citing a US
official who stated that the US-China 'phase one' agreement may not be signed at
November's APEC meeting as previously speculated by reports in both Chinese and
US press. On the headline, USD/JPY dipped to session lows of Y108.75, but the
losses were swiftly reversed ahead of the close.
-The data calendar really picks up Wednesday, with Australian inflation, GDP
from France and the US, ADP employment data and regional German CPIs. Rate
decisions are also due from the Bank of Canada and Federal Reserve.
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MNI London Bureau | +44 203-865-3809 |