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Pound Dips as MPs Gain Upper Hand26 March 2019 by Dave Evans

Morning Report: 07.00 London

The British Pound is slipping back again after MPs voted to take control of Brexit, by backing an indicative vote on the amendment. The GBP/USD has slipped below 1.3200, while the GBP/JPY is rangebound and struggling to hold the 145.00 level. The EUR/GBP is climbing and making gains for the second straight day.

Dollar pairs are generally on back foot, with the dollar index recovering some of yesterday’s losses. The EUR/USD is slipping back, but holding the 1.1300 level. The AUD/USD unchanged and holding above the 0.7100 level.

The USD/CAD is nudging higher and is set to challenge the 1.3400 level from below, while the USD/CHF is also recovering, but still sits firmly below the parity line.

The USD/JPY is holding just above 110.00 level, with the AUD/JPY performing best and making gains towards 78.50. The EUR/JPY is unchanged after holding the 124.00 level, while the GBP/JPY is unchanged.

Coming up today

Today, we have FOMC member Evans speaking at 10.30.

MPC member Broadbent speaks at 11.00.

US Building permits are at 12.30.

CB Consumer Confidence is at 14.00.

Trade Idea

Gold looks ever attractive in these uncertain times, pushing well above the March lows. Uncertainty will not be a precious commodity in 2019, making a higher bet on gold attractive.

Pound Dips as MPs Gain Upper Hand

A good way to play this is a HIGHER trade predicting that gold will close above $1325 in 14 days for a potential return of 140%.

Pound Dips as MPs Gain Upper Hand