ForexLive European morning FX news wrap: Pound hogging the headlines once again

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    Forex news and economic data headlines 18 October 2016



    UK inflation data and on-going Brexit rumblings have kept the pound at the top of the headline leader board again.

    A session that's seen a softer US$ generally but we've seen the pound make the most advantage taking its cue from the Asian GBPUSD stop-hunt spike to 1.2274.

    From a retreat to 1.2230 we've seen a move post-data to 1.2280 before falling back again only to rally once more and push through 1.2300 as High Court comments on Brexit found a few buyers again. EURGBP similarly has been up, down , up and down again between 0.8950 and 0.9010.

    EURUSD has been pinned around 1.1010 with large option expiries in focus and USDJPY has been toying with 104.00 for the most part before dipping to 103.83

    Oil has remained mostly firm and helping to push USDCAD lower while equities have also enjoyed a decent session. Firmer commodities have underpinned AUDUSD and NZDUSD but both have run into sellers again.

    US CPI the data highlight to come at 12.30 GMT

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    This article appears in: Investing , Forex

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