Daily Update - 17th January 2019
The Euro slipped lower against the U.S. dollar on Wednesday, as worries about the outlook of the euro zone economy weighed on the single currency. The euro had already been hit earlier this week, as data showed Germany barely escaped a recession in the second half of 2018. Sterling strengthened against the dollar on Wednesday, after British Prime Minister Theresa May's government won a confidence vote in parliament. Lawmakers voted 325 to 306 that they had confidence in May's government, just 24 hours after handing her Brexit deal a crushing defeat that left Britain's exit from the European Union in disarray. She must return to Parliament to set the Plan B on this Monday. The U.S. dollar strengthened against the yen on Wednesday, as the greenback gained on uncertainty over the European economy and Brexit, while apprehensions about a global economic slowdown limited sharp gains. The dollar was 0.31 higher versus the Japanese yen at 109.03. Economic data released through the Asian session this morning was on the lighter side, with key stats limited to November home loan figures out of Australia and December house price numbers out of the UK. Outside of the numbers, BoJ Governor Kuroda also spoke in the early part of the day.Yesterday’s Focus
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