Analysts at Westpac explained that the weekend Shanghai G20 statement included concern over market volatility and “Brexit” but as usual, no specific co-ordinated plans for action.
Key Quotes:
“FX markets showed no apparent reaction when markets opened in Sydney today.
The US dollar made broad-based gains. EUR/USD started to topple over from 1.1060 in the London morning, with losses accelerating from around 1.1020 to 1.0920 after the US data.
USD/JPY was fairly muted just below 113 until the US data, sparking a rally with few pauses to close at 114.
GBP/USD rallied as far as 1.4042 in London but then joined the crowd, sliding as far as 1.3857, another low since 2009. A new opinion poll found 52% support for the UK to leave the EU and it is hard to imagine British voters will be swayed by the G20 expression of concern over “Brexit”.”
(Market News Provided by FXstreet)