This morning, the British pound is on the back foot after a weekend of hard Brexit talk and rumours of a vote of no confidence in Theresa May. The GBP/JPY is off by 0.59%, with the GBP/USD down by 0.55%. Meanwhile the EUR/GBP rises by 0.44% as the pound weakens against the euro.
The yen pairs are on the back foot, with the GBP/JPY experiencing the biggest losses. The USD/JPY is slipping back after gapping higher this morning.
While the pound is troubled this morning, the euro is also on the back foot along with other dollar pairs as the dollar index gaps higher this morning.
The Australian dollar is performing well this morning, bucking the trend against dollar cells. The AUD/USD is pushing higher, with the NZD/USD rising in sympathy.
Coming up today
Today is a bank holiday in Canada for Remembrance day.
BOJ governor Kuroda speaks at 17.45.
Trade Idea
The Euro and yen have tended to cancel each other out since September and this could well continue with the EUR/JPY stuck in a tight trading range.
Morning Report: 07.00 London
This morning, the British pound is on the back foot after a weekend of hard Brexit talk and rumours of a vote of no confidence in Theresa May. The GBP/JPY is off by 0.59%, with the GBP/USD down by 0.55%. Meanwhile the EUR/GBP rises by 0.44% as the pound weakens against the euro.
The yen pairs are on the back foot, with the GBP/JPY experiencing the biggest losses. The USD/JPY is slipping back after gapping higher this morning.
While the pound is troubled this morning, the euro is also on the back foot along with other dollar pairs as the dollar index gaps higher this morning.
The Australian dollar is performing well this morning, bucking the trend against dollar cells. The AUD/USD is pushing higher, with the NZD/USD rising in sympathy.
Coming up today
Today is a bank holiday in Canada for Remembrance day.
BOJ governor Kuroda speaks at 17.45.
Trade Idea
The Euro and yen have tended to cancel each other out since September and this could well continue with the EUR/JPY stuck in a tight trading range.
A good way to play this is a IN/OUT trade predicting that the EUR/JPY will close between 133.00 and 131.00 in 18 days time for a potential return of 123%.
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