Pound
under pressure
The
pound found itself reacting unusually strongly to yesterday’s construction PMI
says Currencies
Direct, the UK based
foreign exchange broker. The full article can be
read in this link - https://www.currenciesdirect.com/en/news/currency-news/uk-construction-sector-slowdown-pressures-pound
Dollar steady
“The market looks to have already priced in North Korea’s
nuclear test. While caution towards the North conducting another missile launch
is limiting the dollar’s upside, at least the market can be mentally prepared
for it,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities. The
full article can be read in this link - https://www.reuters.com/article/global-forex/forex-dollar-steadies-after-pondering-n-korea-headlines-u-s-policies-in-focus-idUSL4N1LM02Z
Euro higher again
“Any attempt to jawbone the currency lower by the ECB will be
limited in its impact as the broader market expects policymakers to stick to
their plan of gradually unwinding its policy stimulus,” said Peter
Rosenstreich, head of market strategy at Swissquote in Switzerland. The full
article can be read in this link - https://in.reuters.com/article/uk-global-forex/euro-tiptoes-higher-again-as-ecb-eyed-idUSKCN1BG0UG
Yuan gains
“It looks like the yuan uptrend or at least stabilization will
be able to continue, and this will help the offshore yuan bond market,” said Wu
Qiong, a Hong Kong-based analyst at BOC International Holdings Ltd. “Issuers
are closely watching the changing relative cost between onshore and offshore.” The
full article can be read in this link - https://www.bloomberg.com/news/articles/2017-09-04/yuan-s-new-role-as-haven-is-last-great-hope-for-dim-sum-bonds
Rupee lower
According to angel broking, “USDINR spot is expected to weaken
tracking losses in Asian market currencies following tensions surrounding over
Korean Peninsula.” The full article can be read in this link - http://economictimes.indiatimes.com/markets/forex/rupee-opens-5-paise-lower-against-us-dollar-at-64-05/articleshow/60371980.cms
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