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September 12th, 2017: Pound Rallies on Brexit Bill Pass

Morning Report: 07.00 London

The dollar is on the weaker side this morning after a strong showing yesterday as Hurricane Irma veered Westward to reduce its potential impact.

Most dollar pairs are nudging higher, led by the GBP/USD which is emboldened by the passing of the Brexit bill last night in Parliament.

Yen pairs are on the rise again, with the GBP/JPY a top performer as investors turn away from safe haven assets and embrace risk. The USD/JPY is unchanged, however.

The EUR/GBP is slipping lower again as the pound continues to dominate the euro.

Meanwhile, gold is slipping a little further from the highs as investors feel the worst is over with North Korea and Hurricane season.

Coming up today

Coming up today, we have UK CPI, PPI and RPI at 09.30.

US JOLTS job openings are at 15.00.

Trade Idea

Has the Brexit worm turned? It’s unlikely given the complications ahead, but there do appear to be tailwinds behind the pound at the moment.

September 12th, 2017: Pound Rallies on Brexit Bill Pass

A good way to play this is a HIGHER trade predicting that the GBP/JPY will close above 145.50 in 14 days for a potential return of 135%.

September 12th, 2017: Pound Rallies on Brexit Bill Pass