9th August 2017- North Korean tensions dominated trading after hours

 
     

North Korean tensions dominated trading after hours

A stronger than expected reading for the US job-opening data triggered fresh demand for the dollar with the impact amplified by a further scaling back of short dollar positions against the Euro. EUR/USD dipped to 10-day lows while there was also net pressure on commodity currencies during the day.

A fresh increase in North Korean tensions dominated trading from late US trading on Tuesday with President Trump and the Pyongyang regime trading threats. The yen gained fresh buying support and hit 8-week highs with USD/JPY below 110.00.

The dip in risk appetite triggered fresh support for precious metals and put equity markets under pressure in Asian trading.

There were no significant UK developments during Tuesday as global events and positioning dominated.

GBP/USD was unable to make any headway ahead of the US open with resistance close to the 1.3050 area and edged towards the 1.3000 area.  A wider dollar advance in New York pushed GBP/USD below 1.3000 which triggered a fresh round of stops and lows near 1.2950.

From highs lows at 1.0999, EUR/GBP rose to 1.1089 with GBP/USD also recovering back to near 1.3000.

A more cautious tone surrounding risk had some impact in curbing Sterling support, but GBP/USD moved back above 1.3000 on Wednesday with support on valuation grounds.

     
 
       
 

GBP/EUR 

– 1.1077

 
 

GBP/USD 

– 1.3009

 
 

GBP/CHF 

– 1.2602

 
 

GBP/JPY 

– 143.14

 
 

GBP/AUD 

– 1.6505

 
 

GBP/NZD 

– 1.7774

 
 

GBP/CAD 

– 1.6506

 
 

GBP/ZAR 

– 17.4895

 
 

GBP/NOK 

– 10.3739

 
 

GBP/SEK 

– 10.6468

 
 

EUR/USD 

– 1.1740

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR 

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

13:30 USD

Nonfarm Productivity 

0.70%

0.00%

 
   

15:00 USD

US Wholesale Inventories

0.60%

0.60%

 
   

15:30 USD

US Crude Oil Inventories

-

-1.5M

 
   

-

-

-

-

 
 
   
 
 
*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time.  CentralFX are not responsible for the rates shown.
 
 
 

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