 Sterling stages a broad based rebound today despite poor PMI services data. The Pound is partly helped by technical support from GBP/USD (at 1.2661) and EUR/GBP (at 0.8939). Additionally, traders are probably reassessing Brexit scenarios. A tricky point is on what would Common's rejection of Prime Minister Theresa May's Brexit deal lead to. One far fetched possibility is UK unilaterally withdrawing Brexit request. The ongoing Brexit debate in the parliament, and speculations ahead of December 11 vote might limit downside of the Pound for the moment. Meanwhile, Euro follows as the second strongest on positive development in Italy. While nothing concrete has been delivered, it seems that Italy is working "intensely" with European Commission to revise its 2019 budget plan. Words from the coalition government are so far affirmative. German-Italian spread drops to around 280, suggesting acceptance by investors. Australian Dollar is currently the worst performing one after weak GDP data. Yen is the second weakest as there is no intensification in risk aversion. Technically, most pairs are bounded in rather narrow range without any significant development. EUR/USD is staying in 1.1267/1472. GBP/USD recovers after hitting 1.2661 but upside is limited well below 1.2927 minor resistance. USD/CHF fails 1.0006 resistance again but it's holding above 0.9908. USD/CAD is also holding in range of 1.3160/3359 despite strong rebound. In other markets, major European indices are trading in red but losses are limited. FTSE is down 1.02%, DAX down -0.68%, CAC down -0.76%. German 10 year yield is up 0.0125 at 0.276. Italian 10 year yield is down -0.629 at 3.086. Earlier today, Nikkei closed down only -0.53% after paring much of earlier losses. Singapore Strait Times dropped -0.37%. Hong Kong HSI and China Shanghai SSE lost -1.62% and -0.61% respectively. Focus will turn to BoC rate decision. And the central bank is widely expected to keep interest rate unchanged at 1.75%. | 
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