 Sterling suffers another round of selloff today as the markets clearly disapprove of UK Prime Minister Theresa May's next step on Brexit. In short, she's just seeking a short delay until June 30. But any date beyond May 23, when EU elections take place, is already rejected back on March 11. May also intends to bring her old deal to a third meaningful vote and there is so signs on any chance to get through the Commons. More volatility would likely be seen in the Pound as the March 21-22 European Council meeting looms. Staying in the currency markets, Canadian is also among the weakest ones as WTI crude oil dips sharply to 58.94 after failing to break through 60 key resistance zone. But the find direction, a breakthrough or rejection, could depend on oil inventory data to be release soon. Australian Dollar is currently the strongest one, followed by Swiss Franc. Dollar is mixed, awaiting FOMC rate decision, economy projections and press conference. In Europe, currently, FTSE is down -0.08%. DAX is down -1.57%. CAC is down -0.43%. German 10-year yield is down -0.0073 at 0.092. Earlier in Asia, Nikkei rose 0.20%. Hong Kong HSI dropped -0.49%. China Shanghai SSE dropped -0.01%. Singapore Strait Times dropped -0.41%. Japan 10-year JGB yield rose 0.0092 to -0.036. |
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