LONDON, July 23 — Sterling stabilised above US$1.27 (RM5.40) today on the last day of the Brexit negotiations, with traders looking out for any headlines that may shine some light on whether Britain could walk away from the European Union with a deal at the end of the year. Media reports...
The pound was down 0.1 per cent at US$1.2716 and down 0.2 per cent versus the euro at 91.02. — Reuters pic
LONDON, July 23 — Sterling stabilised above US$1.27 today on the last day of the Brexit negotiations, with traders looking out for any headlines that may shine some light on whether Britain could walk away from the European Union with a deal at the end of the year. Media reports suggested the United Kingdom has given up hope on reaching a deal so investors should “watch the tone of the statements coming out of today’s final meetings to see if they are of a conciliatory or confrontational nature,” said Marshal Gittler, head of investment research at BDSwiss Group.
Overnight implied volatility gauges showed traders were slightly nervous about possible emerging headlines on Thursday as levels inched to a one-month high of 8.85 per cent.Leveraged funds were shorting the British currency as of last Tuesday, but they had cut their positions in the last few weeks to hold just above US$1 billion in shorts, according to latest CFTC data. — Reuters
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