Forex Analysis for Wednesday 21st December 2016
Tuesday was quiet in terms of Tier I news. UK PM May stated she wants to negotiate a transitional deal for the Brexit to assist in a smooth exit from the bloc after 2019. (FT)
The USD takes a short breather as equities around the world move up with the Dow breaching 20,000 for the first time ever. WTI closes at its highest since July 2015. The JPY weakens and may be showing the early signs of consolidation (or pre-Christmas low volume). GBP and CAD go sideways. Generally risk-on. US treasuries continue to drop in price (yield up) whilst UK and German bonds consolidate.
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