FOREX TradingCharts.com

Forex News: Pound Slides As EU Barnier Hints At 'deadlock'

Pound Slides As EU Barnier Hints At 'deadlock' In Brexit Talks

10/12/2017 - 09:13:00 (RTTNews)

(RTTNews) - The pound dropped against its key counterparts in the European session on Thursday, as the European Union's chief Brexit negotiator Michel Barnier suggested that the negotiations over financial settlement had reached a "deadlock" and he will not recommend the start of discussions on future trade relationship with the EU.

"I am not able in the current circumstances to propose next week to the European Council that we should start discussions on the future relationship," Barnier told at a news conference in Brussels.

Barnier said that agreement was needed on the financial settlement, EU citizens' rights and the Irish border before moving into discussions about a future relationship.

The "deadlock" on payments was "disturbing," Barnier said, adding that there could be "no question of making concessions" on these issues.

The latest Credit Conditions Survey from the Bank of England showed that UK banks tightened conditions for unsecured lending to households and are expected to reduce its availability significantly at the end of the year.

Meanwhile, availability of secured credit to households increased slightly in three months to mid-September and lenders forecast its availability to be unchanged in the fourth quarter.

The pound was higher against its major rivals in the Asian session.

The pound hit 3-day lows of 147.30 against the yen and 1.3122 versus the dollar, off its early weekly high of 149.07 and an 8-day high of 1.3265, respectively. The next possible support for the pound is seen around 146.00 against the yen and 1.30 against the greenback.

The pound slipped to a 4-week low of 0.9033 against the euro and a 6-day low of 1.2784 against the franc, from its early high of 0.8950 and and a 3-day high of 1.2903, respectively. Continuation of the pound's downtrend may see it challenging support around 0.915 against the euro and 1.265 against the franc.

Looking ahead, at 10:30 am ET, the European Central Bank President Mario Draghi and Federal Reserve Governor Lael Brainard participate in a panel discussion about monetary policy at the Peterson Institute for International Economics, in Washington DC.

Simultaneously, Federal Reserve Governor Jerome Powell will give a speech titled "Prospects for Emerging Market Economies in a Normalizing Global Economy" at the Institute of International Finance Annual Membership Meeting, in Washington DC.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. Housing Starts (12 min(s), 48 sec(s) ago)
(RTTNews) - Following the release of U.S. building permits and housing starts for September at 8.3 ...Full Story»

Dollar Mixed Ahead Of U.S. Housing Starts (18 min(s), 48 sec(s) ago)
(RTTNews) - The Commerce Department and Housing & Urban Department's Housing Stats will be ...Full Story»

Canadian Dollar Climbs On Higher Oil Prices (36 min(s), 48 sec(s) ago)
(RTTNews) - The Canadian dollar advanced against its most major counterparts in the European sessi ...Full Story»

Yen Falls As BoJ Sakurai Says Current Monetary Easing Required (02 hr(s), 42 min(s), 47 sec(s) ago)
(RTTNews) - The Japanese yen declined against its major counterparts in early European deals on We ...Full Story»

Pound Climbs Further After UK Unemployment Data (04 hr(s), 12 min(s), 48 sec(s) ago)
(RTTNews) - At 4.30 am ET Wednesday, the Office for National Statistics has issued UK unemployment ...Full Story»

Pound Rises Ahead Of UK Unemployment Data (04 hr(s), 18 min(s), 48 sec(s) ago)
(RTTNews) - At 4.30 am ET Wednesday, the Office for National Statistics is scheduled to issue UK u ...Full Story»

Yen Slides Against Majors (04 hr(s), 36 min(s), 48 sec(s) ago)
(RTTNews) - The Japanese yen weakened against its major opponents in early European deals on Wedne ...Full Story»

U.S. Dollar Climbs As Inflation Expectations Build Up (05 hr(s), 09 min(s), 48 sec(s) ago)
(RTTNews) - The U.S. dollar strengthened against its major counterparts in the Asian session on We ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. Housing Starts

10/18/2017 - 08:33 AM (RTTNews)
(RTTNews) - Following the release of U.S. building permits and housing starts for September at 8.3 ...Full Story>>

Dollar Mixed Ahead Of U.S. Housing Starts

10/18/2017 - 08:25 AM (RTTNews)
(RTTNews) - The Commerce Department and Housing & Urban Department's Housing Stats will be ...Full Story>>

Canadian Dollar Climbs On Higher Oil Prices

10/18/2017 - 08:08 AM (RTTNews)
(RTTNews) - The Canadian dollar advanced against its most major counterparts in the European sessi ...Full Story>>

Yen Falls As BoJ Sakurai Says Current Monetary Easing Required

10/18/2017 - 06:00 AM (RTTNews)
(RTTNews) - The Japanese yen declined against its major counterparts in early European deals on We ...Full Story>>

Pound Climbs Further After UK Unemployment Data

10/18/2017 - 04:32 AM (RTTNews)
(RTTNews) - At 4.30 am ET Wednesday, the Office for National Statistics has issued UK unemployment ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.