Sterling opens broadly higher as Brexit trade negotiation is extending through the Sunday deadline. The Pound is taking Euro and Swiss Franc slightly higher today. Nevertheless, it should be noted that no important resistance level is broken by Sterling. Traders are just lighting their shorts. Markets are rather mixed elsewhere, with weakness seen in Dollar. But overall trading is subdued, with most pairs bounded inside Friday's range. Technically, other than Sterling pairs, Euro is worth a watch this week too. Both EUR/USD and EUR/JPY are holding in tight range below 1.2177 and 126.74 temporary tops. Outlook stay bullish in both pairs and upside breakout could be imminent, considering the time spent on the consolidations. However, Euro is at the same time capped by weakness against commodity currencies. EUR/AUD is pressing 1.6033 low and firm break there could prompt downside acceleration. Such development could also drag EUR/CAD further lower to retest 1.5313 low. We could see which way it goes later in the week. In Asia, currently, Nikkei is up 0.64%. Hong Kong HSI is down -0.04%. China Shanghai SSE is up 0.39%. Singapore Strait Times is up 1.39%. Japan 10-year JGB yield is up 0.004 at 0.017. |