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The lack of Brexit news limits the GBP near term gains


USD index in recovery move after the Easter holidays with the higher US stock leading better risk sentiment turning effect. UST yield remains gradually lower and flattering yield curve still cloud the near term risk sentiment. USDJPY and JPY cross higher in Asian session on the effect of further trend continuation.

GBP hold above 1.4000-20 which driven some short covering but fresh selling above 1.41 will limit the near term gains with lack of Brexit news but GBP mostly follows the broad USD direction.

EUR lowering on some EUR cross selling but recent support is at around 1.22 and a 1.2240-50 will see more demand on broad bullish medium term trend.

Today the Eurozone unemployment rate, CPI, UK construction PMI, US ADP Employment Change, Services and Composite PMI, ISM non-manufacturing PMI, Factory Orders, Durable Goods Orders and stock/bond market move will dominate the intraday action.


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