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Feb 27th, 2018: Brexitometer Swing Hurts Pound

Morning Report: 07.00 London

This morning, the British pound remains under pressure as the ‘Brexitometer’ swings firmly in the EU’s favour. The latest change comes amid ongoing Conservative infighting and a firm stance taken by the EU. The EUR/GBP has risen for the last two days. The EUR/USD is also set for two days of gains, while the GBP/USD is struggling to make any form of progress despite a weaker dollar this morning.

The AUD/USD is also lagging this morning, though made good progress yesterday, with the AUD/JPY slipping lower.

Yen pairs are lower as the Japanese yen remains in control. The GBP/JPY following up on yesterday’s losses.

The Swissy is on the rise, helped by the weakening dollar, with the USD/CHF slipping lower.

Coming up today

Coming up today, we have Spanish flash CPI at 08.00.

European M3 money supply is at 09.00.

German Buba President Weidmann speaks at 10.00.

US core durable goods orders are at 13.30.

US CB consumer confidence at 15.00.

Trade Idea

Brexit disappointment and confusion still weighs heavily on the pound, giving the GBP/JPY a downside bias.

Feb 27th, 2018: Brexitometer Swing Hurts Pound

A good way to play this a LOWER trade predicting that the GBP/JPY will close below 149.00 in 14 days for a potential return of 123%.

Feb 27th, 2018: Brexitometer Swing Hurts Pound