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OVERVIEW There is breaking news of a draft Brexit deal pushed the GBP up to 1.2750 Reports from the US and China are conflicting as far as how close the world's two largest economies are on a trade deal. HIGHLIGHT The GBP is up 0.5% on the day with Brexit X-factor dictating market sentiment. Read more
The dollar has traded mixed so far today, while a rise the pound has been the biggest mover out of the main currencies. The pound pared gains, having remained below the respective highs seen last Friday against the dollar and yen. The UK currency did managed to eke out a fresh five-month peak in the case against the euro, however. Read more
Both the pound and the euro are up against most other currencies on an increased perception that there will be another Brexit delay, which would take the deadline out to January 31 or later. There is also increasing signs that Prime Minister Johnson has a stab at winning sufficient parliamentary support on his plan should he manage to reach a deal with the EU. Read more
The biggest mover so far today has been the GBP-JPY cross, which has dropped by nearly 1%, reflecting about two parts sterling underperformance amid reports of a lack of progress in Brexit negotiations over the weekend, and about one part yen outperformance, which rebounded as the optimism over the yet-to-be-signed-off U.S.-China trade deal faded. Read more
Currencies have opened the week in undramatic fashion, with the major dollar pairings and cross rates plying range ranges so far. Sterling has drifted lower, correcting some little after seeing the biggest two-day rally in 25 years at the tail end of last week. Read more
With the exception of USD-JPY, the Dollar was lower in N.Y. trade on Friday. Save-haven flows seen into the USD over the past week or so have been unwound to a degree on positive trade news, while strength in the pound and Euro have stepped up on hopes for a Brexit resolution. Read more
Risk-on positioning has continued to be expressed in currencies, which has seen the yen edge out fresh lows and the dollar bloc and most developing-world currencies rise (even the Turkish lira has come off the lows over the last day). Markets are hopeful that the U.S. Read more
After fading overnight, the Dollar slipped further in N.Y.. trade on Thursday. Cooler U.S. CPI didn't help the Greenback, while hopes for a U.S./China trade deal in one form or another pressured the USD, as recent safe-haven flows were reversed. Wall Street and yields moved higher after it was announced that Trump would meet China vice-premier Liu He at the White House on Friday. Read more
The dollar bloc and the euro have been outperforming the dollar and yen, along with most other currencies. This came against a return to a sputtering price action in stock markets in Europe after gains in Asia and on Wall Street yesterday. The euro was showing respective gains of over 0.5% against the dollar and yen as of the early European afternoon, and a gain of around 0.2% against both sterling and the Swiss franc. Read more
The dollar bloc currencies have lifted amid a cautious risk-on vibe in Asia, led by a rally on Chinese stock markets. AUD-JPY was showing a gain of about 0.5% as it printed a nine-day high at 72.81, while AUD-USD rallied to around the 0.6750 mark from the low 0.67s. Read more
