Forex news for North American trade on July 4, 2018
- Some ECB members said to see end-2019 rate hike as too late - report
- Trump asked aides about invading Venezuela
- Fed's Kashkari mocks the 'historic work shortage'
- Ambassador: US ready to find compromise on EU auto tariffs - report
- UK police fear couple was exposed to a nerve agent
- Iran says Trump is inflicting "self harm" when it comes to oil prices
Markets:
- GBP leads, USD lags
- US markets closed for holiday
It was a fairly quiet one, which is exactly what you would expect on July 4. The market moving headlines were from Europe and both hit after London had gone home. The first said some ECB members wanted to make a hawkish shift and the second said the US was willing to find a compromise on auto tariffs. They sent EUR/USD up to 1.1675 from 1.1640.
Cable also caught a continuous bid as it climbed to 1.3250 and the highest since June 26. There wasn't a clear headline behind the rally but all the focus remains on May's Brexit plan to come later this week. Carney also speaks on Thursday and may help to underscore expectations of a hike next month.
Other market moves were small as USD/JPY attempted to pare some of the Asian losses but still remains down a dozen pips on the day at 110.48.
