Very quiet market yesterday. Japan was closed yesterday and seems like everyone is anticipating the FOMC before they enter into a new trade.
Dollar yen was extremely quiet because of the holiday in Japan.
Portugal and Irish spreads have been widening, so we saw Euro come off a little.
Sterling traded weaker with some M&A selling happening. UK times report also stated “Mortgage lending shrank to its weakest August level for a decade last month, triggering fresh predictions that house prices are heading downward this autumn.” We may just see sterling head lower if prices remain low.
Aussie – RBA September minutes suggest that “likely higher rates will be needed at some point to contain inflation.” Looks like we’ll be seeing Aussie race higher.
Data today
RBA board September minutes – 1.30am GMT
UK public sector net borrowing – 8.30am GMT
US housing start – 12.30pm GMT
US FOMC rate decision – 6.15pm GMT
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