Entering into US session, Sterling is overwhelmingly the weakest one for today, even worse that New Zealand Dollar. The Pound is weighed down by talks that the cross-party Brexit negotiation between Conservatives and Labour nearly collapsed. Prime Minister Theresa May insisted to the Commons that she’s still working on an agreement. But at least there won’t be a solution soon as UK is already prepare to take part in European Election on May 23. New Zealand Dollar follows as the second weakest after RBNZ cut interest rate to 1.50%. Though, Kiwi pared back much of the losses as the day goes.
Meanwhile, Yen remains the strongest one for today on risk aversion, over concern of US-China trade war. According to a Reuters report, China has backtracked on nearly all aspects of its commitments in the latest draft agreement sent to the US team last weekend. It’s unsure whether Vice Premier Liu He will withdraw those changes or offer something else. Swiss Franc follows as the second strongest, and then Canadian.
In Europe, currently:
- FTSE is down -0.28%.
- DAX is up 0.25%.
- CAC is down -0.10%.
- German 10-year yield is down -0.011 at -0.047.
Earlier in Asia:
- Nikkei dropped -1.46%.
- Hong Kong HSI dropped -1.23%.
- China Shanghai SSE dropped -1.12% to 2893.76, back below 2900.
- Singapore Strait Times dropped -0.87%.
- Japan 10-year JGB yield was flat at -0.05.
