FX Morning Colour: Super Majority Victory

The greenback remains undecisive, as the anticipation of the announcement of the new Fed Chair continues to loom over markets, with reports stating that Powell, Taylor and Yellen are all still in the frame. The DXY trades below 94.00, struggling to find any real direction, with its major pairs seeing the same subdued, range-bound trade.

The headline news over the weekend was Japanese PM Abe winning the supermajority, as flows flooded into the Asian stock market, with risk flow causing some selling in JPY. USD/JPY gapped higher, briefly spiking through 114.00.

Sterling slowly ground higher through Asian trade, with UK Brexit Sec Davis stating on Friday that the UK doesn't want a 'no deal' outcome on Brexit, but added that the UK will be ready if it occurs, with cable hinging around 1.32.  

23 Oct 2017 - 08:50- ForexBank Speaker- Source: RANsquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: