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US-China Optimism Fades, GBP Gains on Brexit Hopes


Equity markets retreated somewhat, while safe havens gained yesterday, following reports that China wants more talks before signing a first-phase trade deal, something suggesting that last week’s negotiations may have not progressed as great as initially reported. Among the G10 currencies, the pound was the main gainer, rebounding again after the UK Telegraph reported that a Brexit deal appears to be taking shape.

Stocks Pull Back as Trade-Deal Optimism Wanes

The dollar traded higher against most of the other G10 currencies on Monday and during the Asian morning Tuesday. It gained the most against NOK, AUD, NZD and CAD, while it underperformed only fractionally against GBP and JPY. The greenback was found virtually unchanged against EUR.

The strengthening of the yen, the fact that the franc was among the currencies that lost the least against the dollar, and the underperformance of the commodity-linked currencies suggests that...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/us-china-optimism-fades-gbp-gains-on-brexit-hopes-20191015
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