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GBP the Main G10 Loser ahead of UK GDP, Canada’s Jobs Data Also in Focus


The pound was the main loser among the G10s, perhaps weighed on by a report that Boris Johnson will call an election in the days after Brexit if a no-confidence vote succeeds in Parliament. As for today, GBP-traders may throw a glance at the 1st estimate of the UK GDP for Q2. The Canadian dollar was among the main gainers, with CAD-traders awaiting the nation’s employment report for July.

Pound Slides on UK Political Uncertainty, UK GDP for Q2 in Focus

The dollar traded lower against all but two of the other G10 currencies on Thursday and during the Asian morning Friday. It gained only against GBP and EUR in that order, while it lost the most ground versus the commodity-linked currencies NZD, AUD, and CAD.

It seems that the elevated bets that the Fed may need to ease much more than it hinted last week continued to weigh on the greenback. Indeed, equity markets kept trading in...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/gbp-the-main-g10-loser-ahead-of-uk-gdp-canadas-jobs-data-also-in-focus-20190809
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