• Pound in focus again

    Plenty of uncertainty again but we've seen the Pound make some solid gains in the past 24 hours on renewed positive Brexit outcome hopes and positive wages/jobs data but that's been tempered this morning by reports that three Tory MPs might defect and join the breakaway Labour MP-led Independent Group. Other focus today is the release at 19.00 GMT OF the latest US Fed FOMC Minutes.

    GBPUSD has been up to 1.3077 after pausing only for a while at the pivotal 1.3000 area. The Brexit-led rally was also helped by some GBPJPY demand too but now trading back down at 1.3027 as I type on that Tory defection talk.EURGBP has been down to 0.8675 (GBPEUR up to 1.1530) before finding buyers helped by the general GBP retreat.

    I remain GBP bearish overall and continue to rally-sell. Still no change as far as I'm concerned right now.The latest Brexit sentiment turnaround only highlighting how fragile/fickle the issue remains (no pun intended). Equally there is an argument in favour of buying dips at the moment too so I expect to see good two-way business.

    EURUSD has traded tightly and is also still making its mind up at 1.1350 while USDJPY has found some demand at 110.50 after a retreat from yesterday's highs and also continues to trade tightly.USDCHF has retreated from that sell interest around 1.0060 with EURCHF tightly bound and EURUSD looking underpinned for the moment.

    AUDUSD has also found support helped by some AUDJPY demand and generally weaker USD and been up to 0.7180 after yesterday's RBA-led wobble into 0.7100.USDCAD continues to retreat amid the current USD uncertainty and has now been down to test 1.3180 support.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.40 GMT

    GBPUSD 1.3030

    EURUSD 1.1347

    EURGBP 0.8708

    GBPEUR 1.1481

    GBPAUD 1.8206

    GBPCAD 1.7192

    GBPHKD 10.1022

    GBPZAR 18.3888

    USDZAR 14.1044

    USDJPY 110.85

    EURJPY 125.77

    GBPJPY 144.44

    AUDUSD 0.7156

    EURCHF 1.1358

    USDCAD 1.3195

    USDCHF 1.0011

    EURHKD 8.7990

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