Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Euro, Franc Capitalize as Pound Struggles Amid Hard Brexit Fears

Euro, Franc Capitalize as Pound Struggles Amid Hard Brexit Fears

Talking Points:

  • Euro, Franc capitalize as Pound struggles to shake off “hard Brexit” fears
  • Kiwi Dollar suffers as US bond yields bounce after yesterday’s down swing
  • Confirmation hearings for Trump cabinet nominees present headline risk

The British Pound continued to trade lower overnight in a move that appeared to reflect follow-on momentum after UK Prime Minister Theresa May rekindled “hard Brexit” worries yesterday. The Euro and the Swiss Franc traded higher, seemingly buoyed as the go-to regional alternatives to the UK unit.

The New Zealand Dollar also declined, trading inversely of benchmark US 10-year Treasury bond yields. The latter’s rebound probably reflects corrective price action after Fed rate hike bets cooled yesterday. As the highest-yielding G10 currency, the Kiwi can be particularly sensitive to shifting rate spreads.

Looking ahead, a sparse economic data docket overlaps with a pause in the otherwise steady stream of scheduled commentary from Fed officials. This leaves the markets somewhat rudderless, hinting that a consolidative tone may prevail in the near term.

S&P 500 futures look flat ahead of the opening bell on Wall Street, pointing to a neutral sentiment setting and bolstering the case for a sideways session. Complacency is dangerous however as confirmation hearings begin for nominees to US President-elect Trump’s cabinet, making for elevated headline risk.

See the schedule of upcoming webinars and join us LIVE to follow the financial markets!

Asia Session

European Session

** All times listed in GMT. See the full DailyFX economic calendar here.

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.