There have been plenty of Brexit related items over the weekend and into Monday morning here in very early Asia.
To summarise (ps there's a UK-related coronavirus headline in these also. Read from the bottom for the chronological order:
- Brexit - FT reports the UK is planning a new move that risks the collapse of talks with the EU
- On Sunday the UK reported the highest number of new coronavirus cases since May, nearly 3,000
- Brexit - UK says not afraid to walk away from talks. Less than 20% chance of a deal.
- UK press reports the EU wants a potential veto on UK post-Brexit laws & regulations
The news has served to send GBP a little lower in early trade. If you are familiar with the FX cycle of trading you'll know that early Monday is the thinnest liquidity level of the week (late Friday US time is similar). As I post the local times in the Asian major forex centres are around:
- 8.45 am in New Zealand
- 6.45 am in Sydney
- 5.45 am in Tokyo
- 4.45 am in Singapore and Hong Kong
Cable has been as low as circa 1.3235, which was down about 50 points from late Friday US levels. Its currently around 1.3255.
