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UK and EU Agree on Brexit Delay; Norges Bank Hikes, Signals More

JFD

The pound stayed under selling pressure during most of the day this morning, weighed on by uncertainty surrounding the Brexit delay. That said, the currency rebounded overnight, after EU leaders agreed to push back the Brexit date to April 12th. The Norwegian Krone was yesterday’s main winner, rallying after the Norges Bank hiked rates by 25bps and signaled that further increase is on the cards for this year.

EU Leaders Offer UK Another Two Weeks

The pound was found lower against all the other G10 currencies yesterday. The main gainer against the British currency was NOK, with EUR and CHF taking the second and third place respectively. The currencies which capitalized the least against sterling were AUD, CAD and SEK.

For another day, it was all about Brexit. The British currency stayed under selling interest during most of Thursday, weighed on by the uncertainty surrounding a Brexit delay. In our report yesterday, we noted that...

Read the full financial markets daily report on JFD Research.

JFD Brokers Review

Source: https://www.jfdbank.com/en/research/uk-and-eu-agree-on-brexit-delay-norges-bank-hikes-signals-more
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