Asian Markets Higher on Trade Deal Hope

In morning trade Shanghai surged 1.8 percent, Hong Kong added 0.7 percent and Tokyo headed into the morning one percent higher.

Sydney, Seoul and Singapore each added 0.3 percent, while Wellington put on 0.6 percent. Taipei and Manila were also sharply higher.

On currency markets the upbeat mood helped the dollar rise against the safe-haven yen, while the pound was unable to break out of a narrow range as the Brexit saga rumbles on.

Prime Minister Theresa May is expected to try for a third time to push her EU divorce bill through parliament after MPs voted down a number of other options on how to leave.

However, OANDA senior market analyst Alfonso Esparza warned “the third time is not likely to be the charm” owing to continued opposition from key lawmakers.

“Failure for the third time could push the United Kingdom into a remain limbo, where a credible exit could not be engineered before the European parliament’s elections in which Britain would have to participate.”

Via Yahoo News

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.