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Consolidation on forex with Brexit and inflation focus for sterling
The US dollar has been supported by higher Treasury yields again as the US 10 year Treasury yield has move back above2.40% again. However, there seems to be something of a hiatus in currency markets with a lack of direction in recent sessions. Major markets such as EUR/USD, USD/JPY and gold have moved into consolidation phases. The only real mover has been sterling where traders have been fretting over the stability of UK Prime Minister May’s Government. Brexit negotiations have not been progressing as well as some might have expected and the pressure will be ramped up further in the UK Parliament today with ... (full story)