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Pound Gains on Jobs Data, Awaits PMIs; BoC Decision in the Spotlight


Asian equities rebounded today after China’s National Health Commission said that measures to stop the spread of the coronavirus are increasing. In the currency world, the pound was the main gainer among the G10s, boosted by better-than-expected employment data, something that may have eased somewhat expectations with regards to a BoE cut next week. As for today, the highlight may be the BoC rate decision, with investors eager to find out whether the Bank will maintain its neutral bias.

China Virus Fears Ease, Pound Gains on UK Jobs Data

The dollar traded higher against most of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained the most against NOK, AUD and CHF in that order, while it underperformed only against GBP, and slightly versus SEK.

Although not clear by the performance in the FX sphere, market sentiment remained downbeat on Tuesday, with major EU and US indices ending their sessions in the red, due to...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/pound-gains-on-jobs-data-awaits-pmis-boc-decision-in-the-spotlight-20200122
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