ForexLive Asia FX news wrap: Brexit optimism drives up GBP

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Tuesday 12 March 2019

All the Brexit (read from the bottom up for chronological order):

GBP Forex news for Asia trading Tuesday 12 March 2019


Sterling the gainer in early Asia trade here during the session. The meeting between UK PM May and European Commission President Juncker went on longer than expected but produced an 'agreement'. I reckon its pretty thin and will be curious to see how the Uk and Europe markets react, let alone whether it gets the nod of approval from the UK parliament at the 'meaminggful' vote scheduled for Tuesday. More in the bullets above.

Cable added a big figure, well more, to above 1.3285 at one stage before subsiding a little to circa 1.3220. Its just under there as I post.

Optimism on GBP spread a bit wider, EUR, AUD, NZD, CAD, CHF all gained a few points against the USD, EUR/USD up 25-odd points at one stage. Each has retraced a little.

AUD dropped on the data releases today, housing finance still trending lower and, of more focus, the NAB business survey showed further losses in their measures of business confidence and conditions. AUD/USD fell back, briefly, to under 0.7060 but has since risen toward its earlier highs.

USD/JPY headed higher during the session, topping ahead of 111.50 and is under 40 as I post. News flow was minimal from Japan, and, apart from Brexit, elsewhere.

Still to come:

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