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UK Speaker Blocks Brexit Deal, DXY Hits Two-week Low Ahead of FOMC

JFD

The pound traded lower yesterday after UK Parliament Speaker John Bercow ruled out another vote on the same deal that was rejected last week, something that diminishes the chances for a “meaningful vote” before Thursday, when the EU summit begins. The dollar traded fractionally higher, after it hit a two-week low. USD traders are sitting on the edge of their seats in anticipation of tomorrow's FOMC meeting, and taking into account DXY’s latest leg down, they may be expecting a dovish outcome.

UK Parliament Speaker Bans Vote on Same Deal

The pound traded lower or unchanged against all but one of the other G10 currencies on Monday. The currencies that managed to capitalize were JPY, CHF, EUR and USD in that order, while AUD, CAD, NZD and SEK were found virtually unchanged against their British counterpart. The only currency that lost ground was NOK.

The British pound started drifting south yesterday on doubts over whether UK PM Theresa May could convince enough lawmakers to change their minds and support her deal at a third meaningful vote, and it took...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbrokers.com/en/research/uk-speaker-blocks-brexit-deal-dxy-hits-two-week-low-ahead-of-fomc
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