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Currency Market Analysis

Nov 15, 2018 | Currency Market Analysis

Global Themes

Brexit deals boosts markets as USD dips

The British pound – and other risk-sensitive markets – climbed higher overnight as the UK Cabinet agreed to support the UK and EU’s deal for relations after Brexit.

The US’s Dow Jones index jumped more than 300 points from earlier lows on the news of the agreement. The Dow later eased.

There will be further hurdles for the deal, with the UK and EU parliaments both required to approve the agreement.

In particular, the UK parliament will be problematic, with the new deal troubling for the so-called “Brexiteers”.

Higher

Most key currencies gained overnight.

The British pound saw the largest gains with the euro also stronger.

AU jobs

The Australian dollar climbed in early Thursday trade.

The October jobs report came in stronger than expected with the market looking for a relatively high 20k new jobs.

Later, US retail sales will be released.


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