Sterling’s selloff finally takes off on news that UK Prime Minister Theresa May is going to call off tomorrow’s Brexit parliamentary vote. May is going to formally make a statement at 1530GMT. EUR/GBP breaks through 0.9 handle and is on track to 0.9098 resistance. GBP/JPY also breaks 142.76 support and is heading back to 139.88 low. GBP/USD breached 1.2661 key support but it’s hesitating to stay below so far.
Staying in the currency markets, Dollar is following the Pound as second weakest for the time being. Yen is the third weakest. New Zealand Dollar leads Australian Dollar and Euro higher. Euro showed no reaction to terribly bad investor confidence data.
In European markets, at the time of writing:
- FTSE is up 0.20%
- DAX is down -0.46%
- CAC is down -0.53%
- German 10 year yield is up 0.002 at 0.253
- Italian 10 year yield is down -0.032 at 3.099
Earlier in Asia:
- Nikkei dropped -2.12% to 21219.50
- Hong Kong HSI dropped -1.19% to 25752.38
- China Shanghai SSE dropped -0.82% to 2584.58
- Singapore Strait Times dropped -1.24% to 3072.44
- Japan 10 year JGB yield dropped -0.0223 to 0.04
