FX Handover: Pound Ticks Lower as Traders Price in PM BoJo, Leadership Vote on Tap for Tuesday

Matt Weller
By :  ,  Head of Market Research

  • US macroeconomic data:
    • The Empire Fed Manufacturing Index (June) dropped to a nearly 3-year low at -8.6.
    • The NAHB Housing Market Index (June) dropped to 64, below 67 expected
  • The pound was the weakest major currency today as traders digested the Tory debate over the weekend. Tomorrow brings another round of voting, but firm Brexit support Boris Johnson remains the prohibitive frontrunner.
  • The euro and kiwi were the strongest major currencies in otherwise-quiet trade.
  • Oil prices edged lower despite ongoing geopolitical tensions.

Related tags: Forex

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