GBP Flies On Brexit, AUD Sold On RBA

The story of the day in the currency market was the renewed strength in the British Pound after the UK signaled that the October 15 deadline to get a trade deal done with the EU will drag on and talks are set to continue. The removal on this immediate risk caused a sudden and long last flurry of buy-side activity in the currency as it topped the leader board. The order flow in the GBP index below shows the vigorous recovery. The Japanese Yen did quite well too as the sell-side pressure in the main US stock indices prevailed for a second day in a row. Interestingly, the USD was not able to capitalize on this reversal … (full story)

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