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GBP Recovery Following Latest Brexit Headlines

Xero Capital Markets Ltd.


During the European session, the market mood remains optimistic, with European stocks traded higher, lower volatility, and weakness in safe-havens.

In FX markets, GBP recover its early losses following the latest Brexit headlines. According to a tweet from a Financial Times reporter, a "landing zone" for state aid has been identified, leaving fishing rights as the last sticking point.

However, the antipodeans continue to lead across the board, with NZD is most stronger, followed by AUD.

On the other hand, safe-havens currencies pressured, as USD and JPY is the worst performer.

In the New York session, the analysts expect a short-term bullish bias for GBP, AUD, and NZD, while USD and JPY remains pressured in a short-term.

Source: https://monsun.asia/2020/10/01/gbp-recovery-following-latest-brexit-headlines/
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