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GBPJPY Inches Up on Deal Optimism
The pound sterling could continue to strengthen against the yen. This is as long as hopes of a limited trade deal keep sellers at bay. Markets have shrugged off August’s slower-than-expected GDP recovery, a sign than traders are more tuned into Brexit headlines.
With hints of progress towards a potential consensus ahead of this week’s European Council meeting, the pound may stay on its upward trajectory. Along with UK’s jobs data to be released, the latest chapter in negotiations would stir up volatility.
A rally above 138 could send the price towards 142.00. Failing that, 132.00 is a critical floor to keep the boat afloat.
USDCAD Weakens as US Election Nears
The US dollar’s four-week-long rally may have come to an end as investors start to position themselves ahead of the US election on 3 November.
The greenback’s fate seems to be tied to the name of the next president. A Democrat victory is likely to give the green light to the much-anticipated fi...
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