 Focuses in the forex markets turned temporarily from China's coronavirus outbreak to Brexit. Both EU and UK expressed strong positions regarding up coming trade negotiations. Their stance reminds traders that risk of cliff-edge Brexit by year end remains. Sterling suffers steep selloff and drags down the Euro. On the other hand, stabilization in European stock markets lift commodity currencies and Dollar mildly higher. Technically, prior bullish view in Sterling is dampened by today's steep decline. Focus is back on 1.2977 minor support in GBP/USD. Break will likely extend the correction from 1.3514 through 1.2905 support. Break of 141.25 support in GBP/JPY's corrective fall from 147.95 to 139.31 support. EUR/GBP is eyeing 0.8487 minor resistance and break will likely resume the corrective rebound from 0.8276 through 0.8595 resistance. In Europe, currently, FTSE is up 0.36%. DAX is up 0.07%. CAC is up 0.15%. German 10-year yield is up 0.005 at -0.427. Earlier in Asia, Nikkei dropped -1.01%. Hong Kong HSI rose 0.17%. China Shanghai SSE dropped -7.72%. Singapore Strait Times dropped -1.19%. Japan 10-year JGB yield rose 0.0066 to -0.057. | 
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