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Markets Trade “Risk Off” on US-China Tensions, GBP the Main G10 Loser

JFD

The financial world turned to risk-off yesterday, following fresh tensions between the US and China ahead of the high-level negotiation that begin in Washington tomorrow. Among the G10 currencies, the pound was the main loser, coming under fresh selling interest after German Chancellor Angela Merkel told UK Prime Minister Boris Johnson that a Brexit deal is “overwhelmingly unlikely” if Northern Ireland is not left in the EU’s customs union.

US-CHINA TRUCE HOPES FADE, POUND SLIDES AS BREXIT DEAL SEEMS UNLIKELY

The dollar traded higher or unchanged against most of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained against GBP, NOK, SEK and CAD in that order, while it was found nearly unchanged versus EUR, AUD and NZD. The greenback lost some ground only against CHF and JPY.

Read the full article on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/markets-trade-risk-off-on-us-china-tensions-gbp-the-main-g10-loser-20191009
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