Sterling Struggles in APAC

On currency markets the pound struggled at three-month lows against the dollar after British Prime Minister Theresa May said at the weekend the country would have control over its borders after Brexit, suggesting she would be prepared to quit Europe’s single market to achieve it.

“The Brexit narrative has also contributed to market apprehension and added to souring global risk sentiment,” said Stephen Innes, senior trader at OANDA.

That unease has filtered through to other parts of the currency market, with the yen extending gains against the dollar as analysts say there is a fear the greenback’s rally since Donald Trump’s election may have been overdone.

THE BUSINESS TIMES

 

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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and specialises in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is based in Singapore as the Head of Trading Asia Pacific with OANDA.Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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