U.S. Dollar falls, Pound rallies, Here's WhyUpdated 09:19AM 20/09/2019
CHF and GBP are the top G10 FX gainers today, up 0.19% and 0.11% vs the dollar while NZD and NOK are the top losers, down -0.37% and -0.13% vs the dollar.
The U.S. dollar edged lower headed for a third weekly loss in a row as expectations of a resolution in trade wars between U.S. and China improved risk appetite. A spike in the overnight repo rates in the U.S. this week also reduced demand for the dollar.
Elsewhere, Pound rallied on Juncker comments where he hinted a possible Brexit deal; he said a Brexit deal with the U.K. is still possible.
In the Asian equities space, the Nikkei 225 closed up 0.16% at 22,079.09, Hang Seng closed -0.13% at 26435.67 and Kospi ended 0.54% at 2091.52. The European equities were trading weaker with the FTSE down -0.11% at 7348.32, DAX down -0.19% at 12433.49, and CAC down -0.08% at 5654.38. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.7736% and the Bund 10-year yield trading at -0.513%. In the energy space, the Brent (front month) is trading up (0.47%) for the day at $64.7.
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