Home » Daily Commentaries » GBP steadies amid lack of Brexit headlines

GBP steadies amid lack of Brexit headlines

Wednesday 10 April, 2019

Daily Currency Update

GBP - British PoundThe pound has traded a narrow range against other majors over the last 24 hours. Brexit headlines and related rhetoric have lessened since the EU summit earlier in the week - parliament is winding down ahead of the Easter holidays, and so are traders. In this respect, and with a lack of data due for release today, it may be a quite finish to the week for the pound.

Key Movers

UR/USD has pushed steadily higher over the last few trading sessions. It's now close to making a break through the 1.13 big figure, supported in part by some healthy demand for EUR/JPY in Asia. In other news yesterday, US producer price data printed better than expected at 0.6% vs. 0.3% month on month. Jobless claims data also came in quite a lot healthier than markets were expecting. A few Fed officials spoke yesterday too, but said little to surprise the market and the dollar has ultimately remained unchanged - if anything it's slightly lower this morning.

Expected Ranges

  • GBP/USD: 1.3000 - 1.3100 ▼
  • GBP/EUR: 1.1550 - 1.1645 ▼
  • GBP/AUD: 1.8200 - 1.8390 ▲
  • GBP/NZD: 1.9340 - 1.9400 ▲
  • GBP/CAD: 1.7380 - 1.7510 ▲