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Risk Sentiment Rebounds, GBP the Main G10 Gainer

JFD

EU equities traded in red sea yesterday, weighed on by the tensions in the Middle East. However, US and Asian indices rebounded, perhaps due to a letter sent by the US military to Iraq, saying that it would pull out of the country, or due to speculation that Iran may not risk striking against the US in a way that would hurt its oil supplies and exports. In the FX sphere, the pound was the G10 winner, aided by the UK services PMI. Today, focus turns back to the Parliament, where MPs will debate on the Withdrawal Agreement.

Equities Rebound as Middle-East Concerns Ease

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

Once again, the performance in the FX sphere does not paint a clear picture with regard to the broader market sentiment. However, the weakening of the yen suggests that...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/risk-sentiment-rebounds-gbp-the-main-g10-gainer-20200107
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