• Pound still finding buyers on Brexit delay rumours

    Ongoing talk of delays on pushing the final button on Brexit is still adding fuel to the "will we ever get Brexit at all" debate. Whatever you and I might think on it all, and any potential fall out, the algos and market sentiment are backing the Pound again for the moment.

    GBPUSD has been up to 1.3162 helped again by some GBPJPY and GBPCHF risk-on demand as we wait on PM May to deliver a speech today, rumoured to be around 12.30 GMT. Yesterday I highlighted demand building between 1.3050-60 and so it proved. Ahead of May we have Carney & Co delivering the BOE's latest Inflation Report to the UK Treasury Committee at 10.00 GMT.

    EURGBP has shrugged off month-end demand to retreat further on the GBP buying and has fallen to 1-month lows of 0.8627 (GBPEUR up to 1.1592).I remain GBP bearish overall and continue to rally-sell.The latest Brexit sentiment changes only highlighting how fragile/fickle the issue remains while the political mess unfolding can not be deemed positive. Broken record? We'll see but I've also pointed out that equally there are plenty in favour of buying dips at the moment too so I continue to see good two-way business.

    EURUSD is still ranging and going nowhere in a hurry while USDJPY has had another look above 111.00 helped by some JPY/risk-on selling but continues to trade tightly. USDCHF also continues in a 0.9980-1.0020 range with EURCHF also still tightly bound.

    AUDUSD has traded tightly amid positive US-China trade talk and AUDJPY demand also helping to underpin while

    USDCAD continues to trade narrowly but underpinned by softer oil prices after a Trump tweet yesterday.

    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 08.35 GMT

    GBPUSD 1.3148

    EURUSD 1.1354

    EURGBP 0.8635

    GBPEUR 1.1580

    GBPAUD 1.8408

    GBPCAD 1.7378

    GBPZAR 18.2401

    GBPNZD 1.9125

    GBPHKD 10.1952

    USDJPY 110.85

    EURJPY 125.87

    GBPJPY 145.77

    AUDUSD 0.7144

    EURCHF 1.1356

    USDCAD 1.3215

    USDCHF 1.0001

    EURHKD 8.8041

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