Yesterday, the pound continued to drift lower on increasing concerns that the UK could end up leaving the EU with no deal. Overnight, the Aussie barely moved on the RBA decision. The Bank stood pat once and although it made some changes in the statement, those were probably not significant enough to change investors’ view around its future plans.
POUND CONTINUES TO DRIFT SOUTH ON BREXIT CONCERNS
The US dollar traded higher or unchanged against all but two of the other G10 currencies on Monday. It gained against GBP, NZD, SEK and CHF, while it traded virtually unchanged against EUR, AUD and JPY. The greenback underperformed only against NOK and CAD.
The yen strengthened against its US counterpart on Friday and remained fairly stable on Monday as the “trade war” theme took center stage again. On Friday, China said that it will proceed with tariffs of...
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