Title - Sterling Fall and U.S. Dollar Rise for These Reasons
Created 10/02/2019 at 09:32AM
JPY and USD are the top G10 FX gainers today while CHF and GBP are the top losers, down -0.62% and -0.54% vs the dollar.
Sterling fell once again as concerns grew that PM Boris Johnson's plan to replace Irish backstops will not lead a Brexit deal with the EU. Johnson is expected to reveal his Brexit offer to the EU later today.
In the Asian equities space, the Nikkei 225 closed down -0.49% at 21,778.61, Hang Seng closed -0.19% at 26042.69 and Kospi ended -1.95% at 2031.91. The European equities were trading weaker with the FTSE down -1.45% at 7253.7, DAX down -1.01% at 12139.94, and CAC down -1.38% at 5520.23. In the rates market, global yields were trading mixed; the US 10-year yield was trading at 1.637% and the Bund 10-year yield trading at -0.544%. In the energy space, the Brent (front month) is trading down (-0.27%) for the day at $58.73.
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