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/USD Drops In Asia

GBP

Sterling continues to weaken in the Asia-Pac session. GBP/USD last down 65 pips at 1.3520. The pair touched levels as high as 1.3264 on Thursday.

  • There has been no significant news flow, some of the weakness can be attributed to money coming off the table ahead of year end.
  • There is still hope from some a Brexit deal can be reached, Ireland's Deputy Prime Minister Varadkar was the latest to weigh in saying both sides are edging towards a Brexit trade deal and he thinks both sides will want to get a deal by Christmas.
  • However comments from UK Prime Minister Johnson were not so optimistic. He said the EU needs to substantially soften its stance on fisheries to secure a deal. European Commission President Ursula von der Leyen said there was progress big differences remain and noted fisheries as a sticking point.
  • Key support lies at 1.3135, Dec 11 low. A firm support lies at 1.3341, the 20-day EMA
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