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Sterling under $1.30 on sluggish data and dovish words on policy (news:09/08/16)

Today's Press

  • U.S. stocks were little changed at the open on Tuesday as oil prices held steady above the $45 mark, a day after the S&P 500 touched a record intraday high.

  • Several countries including Germany, Portugal and the Czech Republic say the U.K. must accept freedom of movement rules in return for single-market access, writes Bloomberg's Alan Crawford. France may be ready to go even further and link free movement to Britain’s ambition of keeping the so-called passport rights that allow banks to sell services on the continent. 

  • The pound fell 0.4 per cent to $1.2982, breaking below the $1.30 threshold for the first time in 19 trading sessions. The currency has previously found support after the UK’s Brexit vote around the $1.30 mark, having closed under it only four times since the referendum. It left the currency on course for its fifth successive session of declines.

Next Trading Day's Important Events

Forex Quotes:

  • USDJPY: 102.03
  • EURUSD: 1.1103

Indices:

  • S&P 500: 2,184.10
  • NASDAQ : 5,227.05

 


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