Sterling faltered on fading hopes of a Brexit deal

Sterling faltered on fading hopes of a Brexit deal on Thursday, while a five-session rally in Asian stocks ran out of steam as weak U.S. retail sales fanned fears about the health of the world’s biggest economy.

Asian stocks

  • South Korean, Australian and New Zealand indexes were all in negative territory.
  • Sterling fell 0.5% to $1.2762 on the news, drifting from a six-month top of $1.2877 touched on Wednesday.
  • In early European trades, the pan-region Euro Stoxx 50 futures (STXEc1) were down 0.4%.
  • German DAX futures (FDXc1) were down 0.3% while those for London’s FTSE futures (FFIc1) added 0.1% at 7,158.
  • U.S. stock futures (ESc1) were a shade weaker.

Currency

  • In the currency market, the dollar index (=USD) was last at 98.075, bouncing off its lowest since Aug. 27 touched on Wednesday.
  • Against the yen, it was a flat at 108.72 after peaking at 108.90 on Tuesday.
  • The euro stood at $1.1071 (EUR=), near a one-month high of $1.1085 hit in U.S. trade on Wednesday.

Commodities

  • Brent crude (LCOc1) futures fell 0.89% to $58.89 a barrel.
  • U.S. West Texas Intermediate (WTI) crude (CLc1) lost 1.03% to $52.81.

 

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