• Pound under pressure again

    Brexit concerns and Yen demand both helping to keep a lid on the Pound for the moment

    GBPUSD rallied to 1.3930 yesterday as North Korea held out an olive branch on its nuclear programme and that saw risk-on sentiment return and a quick spike in Yen pairs with GBPJPY testing 148.00 from 146.60. The move was short-lived though and we've since been back to 146.22 and 1.3846.

    EURGBP still remains underpinned fed by the general Euro demand/GBP supply double whammy and we've now been up to 0.8968 in a lively morning so far. (GBPEUR down to 1.115 and that, along with renewed GBPJPY selling, is helping to cap GBPUSD rallies too. Overall the Pound has found itself on the backfoot again.

    EURUSD has continued to feel the love and showing no wobbles ahead of tomorrow's latest platitudes from the ECB. We've now been up to 1.2434 after holding 1.2350 but rallies tempered buy some EURJPY selling. USDJPY rallied to 106.48 in tha NK-led spike yesterday but since fallen again to 105.46 amid trade-war fears and Japanese companies repatriating Yen for year-end accounting has pushed it back down to 106.00. Option-related support at 105.50 and 105.00 notable still.

    USDCHF has fallen back to 0.9357 but with EURCHF now pushing up through 1.1650 with the SNB never too far away to weaken the franc.

    Aussie $ NZ$ have found a bit of support still as has the Canadian $ on hopes of a better NAFTA deal with the US and USDCAD failing to break up through 1.3000 again.

    Fickle trading times still so get your orders in to take full advantage.

    Have a good day out there one and all.

    Interbank Rates 08.40 GMT

    GBPUSD 1.3874

    EURUSD 1.2413

    EURGBP 0.8947

    GBPEUR 1.1176

    USDJPY 105.74

    AUDUSD 0.7808

    USDCAD 1.2930

    USDCHF 0.9382

    GBPAUD 1.7768

    GBPCAD 1.7938

    GBPCHF 1.3018

    GBPZAR 16.4375

    GBPHKD 10.7565

    EURHKD 9.6247

    GBPSGD 1.8243

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