The USD is higher with most of the gains vs the weak GBP
The GBP is feeling the pressure as Brexit negotiations crumble. PM May will be making comment at 1245 GMT. The GBPUSD is making new lows as I type. The latest report from the BBC is that “she won’t change tack on Brexit”.
The changes and ranges is showing the action in the GBP pair with all trading at extremes (GBP lower) Other pairs ranges for the day against the USD are relatively contained. Markit PMI data will be released at 9:45 AM ET?1345 GMT. Canada will release CPI and retail sales at 8:30 AM ET/1230 GMT.
In other markets:
- Spot gold is down -$2.50 or-0.21% at $1204.62
- WIT crude oil is up $0.51 or +0.73% at $7084.
- Bitcoin is rising and up $354.99 at $6730. Michael Novogratz – a hedge fund manager and bitcoin supporter – says markets have hit a “seller fatigue,” and repeated his belief that prices have bottomed.
In the US pre-market stocks are higher
- S&P is up 2.3
- Nasdaq is up 9 points
- Dow is up 57 points
In the US debt market, yields are up marginally: