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EUR-Traders Turn Eyes on PMIs, GBP Down on Political Uncertainty

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Risk sentiment was hit yesterday following a report the US is considering imposing restrictions on another Chinese firm. In the FX sphere, the safe-havens yen and franc gained due to the risk-off trading, while the euro traded slightly lower against the dollar, with its traders waiting for Eurozone’s preliminary PMIs for May. The pound was the main loser, as pressure on UK PM May to step down continues to increase.

Yen and Franc Gain, Equities Slide as Risk Appetite Eases

The dollar traded higher against most of the other G10 currencies on Wednesday and during the early morning Thursday. It gained the most against GBP, CAD and NZD in that order, while it underperformed against CHF, JPY, SEK. The greenback traded virtually unchanged versus NOK.

Yesterday, we got the minutes of the latest FOMC meeting, but the market reaction was muted. In our report yesterday, we noted that that bearing in mind that the meeting took place ahead of the...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/eur-traders-turn-eyes-on-pmis-gbp-down-on-political-uncertainty-20190523
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