Sterling surges broadly today as lifted by EU chief negotiator Michel Barnier again. He said in a forum in Slovenia that a Brexit deal within 6-8 weeks if both sides are realistic their demand. Also, it’s reported that EU will announce next week to hold a special summit for Brexit in November, possibly on Nov 13. Euro follows Sterling as the second strongest due to easing worries over Italy’s budget. Swiss Franc is the worst performing one for the same reason as Euro. Yen and Dollar follow as the second and third weakest because of receding risk aversion. And, there is no news regarding trade war yet.
European stocks closed generally higher today but it should be noted that major indices pared back much of earlier gains. FTSE hit as high as 7307.85 but closed at 7279.30, up only 0.02%. DAX hit as high as 12039.22 but closed at 11986.34, up 0.22%. CAC hit as high as 5291.21 but closed at 5269.63, up 0.33%. Gold strengthens mildly as Dollar weakens. But it’s staying in consolidation from 1214.
