The USD is a little lower but mixed

The GBP is the strongest on the back of a power surge after latest concession by the EU to offer a UK-wide customs arrangement. The NZD is the weakest. The USD is lower but also mixed in trading today.

The ranges in the GBP pairs just got a push on the headline news. They generally have the largest tradng ranges into the North American session. The USDJPY and JPY crosses are weak on the back of lower global equities (GBPJPY is the exception as it claws back the early declines on the latest pound surge higher).

In other markets:

  • Spot gold surged out of the recent range and away from its 100 day MA on flight to safety flow. The precious metal is up $17.40 of 1.43% at $1239.73.
  • WTI crude oil is trading down -$1.34 or -1.93% at $68.02
  • Bitcoin on Coinbase is trading down -$40.84 at $6371.16

US stock futures are implying sharply lower levels following the global markets lower:

  • Dow futures imply a -395 point decline
  • S&P futures imply a -42 point decline
  • Nasdaq futures imply a -128 point decline

The European shares are also sharply lower with:

  • German DAX, -1.7%
  • France's CAC, -1.1%
  • UK's FTSE, -1.0%
  • Spain's Ibex, -0.5%
  • Italy's FTSE MIB -0.5%

In the US debt market, yields are sharply lower with the yield curve flattening:

Benchmark 10 year debt yield are also lower: