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GBP remains in lower side consolidation in lack of news


USD index going steady on higher level after 2% gains in the recent days. And a higher UST yield (10 years UST yield 3.01%) which supporting the USD rebound but as the US stock going lower will capping any further USD gains. USDJPY grids higher gradually but lack of follow through above 109 with Japan Corporate selling interest will slow down the up move with the downside support on broad USD strength and higher UST yield effect around 108.50-80 region.

Today lack of US data and only MBA Mortgage Application also in ahead of tomorrow’s ECB meeting, market to remain cautious on EURUSD move and funds demand around 1.2150-80 region will seen some supporting and topside sellers above 1.2250.

GBP remains in lower side consolidation and lack of further news or incentive factor will see the currency in sideway consolidation between 1.3900-1.4010 more likely.

Commodity currencies remain defensive and grids down gradually on strong USD move, short term remain to follow the USD direction.

Today risk sentiment and stock/bond market move will have some intraday impact and market remain to focus for yield move rather than stock movement.


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