APAC Stocks make three month highs

The dollar halted a three-day losing streak against a basket of its trade-weighted rivals and pushed higher on Tuesday, though it dipped again slightly on Wednesday.

Sterling added to overnight gains and was trading at 1.2524 per dollar after Britain’s Supreme Court ruled that the government would need approval from Britain’s parliament before formally triggering the country’s departure from the European Union. It has bounced 4 percent over the last week.

“While some calm has come over the foreign exchange market in the past 18 hours, dealers are on a razor’s edge,” said Stephen Innes, senior trader at online FX platform OANDA in Singapore.

 

Reuters

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Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, 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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