Sterling is trading as the weakest major currency today as the talks on no-deal Brexit heat up. UK Prime Minister Theresa May's spokesman tried to tone down the risks but the markets simply don't listen. Swiss Franc follows as the second weakest as major European indices rebound. in early trading. But the Franc could make a come back as European stocks struggle to extend gain and reverse. On the other hand, Dollar continues to benefit from trade war and is the best performer for today so far. In particular, USD/CNH (offshore Yuan) found its footing and is back above 6.86. Australian Dollar follows as the second strongest but that's mainly because it's cautiously awaiting tomorrow's RBA rate decision. Yen is the third strongest one. Technically, GBP/USD takes the lead and breaks 1.2956 support today. Larger decline from April high at 1.4376 has resumed. EUR/USD is heading to equivalent support at 1.1507 and break should confirm resumption of down trend from 1.2555 (February's high). USD/CHF's break of 0.9977 minor resistance now aligns with EUR/USD and GBP/USD. Further rise would be seen back to 1.0067 resistance. |