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Pound Surges on Delayed Brexit Hopes, ECB Policy Decision in Spotlight

JFD

The British pound was yesterday’s G10 winner, rallying following headlines that the UK Labour party is willing to support an amendment that extends Article 50 in case no deal is reached by the end of next month. The Aussie slid overnight after the NAB decided to hike mortgage rates. As for today, the spotlight is likely to fall on the ECB decision and especially the Bank’s language with regards to the economic outlook. The Norges Bank decides on monetary policy as well.

GBP Up on Brexit-delay Reports, AUD Down on NAB Mortgage Rate Hike

The dollar traded lower or unchanged against most of the other G10 currencies yesterday. It gained only against AUD and CAD, while it underperformed against GBP, CHF, NOK and EUR. The greenback traded virtually unchanged versus JPY, NZD and SEK.

For another day, the pound was among the winners, this time taking the front seat. The currency surged and emerged above the psychological zone of USD 1.3000, following headlines that...

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Source: https://www.jfdbrokers.com/en/research/pound-surges-on-delayed-brexit-hopes-ecb-policy-decision-in-spotlight
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