Forex markets steady after Brexit vote volatility - Financial Times

Foreign exchange markets were steadier after a rocky session overnight in the wake of a crushing defeat in parliament for UK prime minister Theresa May’s Brexit plan.

The pound – which dropped as much as 1.5 per cent against the dollar after the parliament voted against Mrs May’s Brexit proposal before sharply swinging higher – was 0.2 per cent lower on Wednesday at $1.2832.

The US dollar index measuring the greenback against a basket of peers was basically flat but the Japanese yen, at times a haven during market uncertainty, was 0.2 per cent stronger at ¥108.42 per dollar.

In China the onshore renminbi exchange rate, which moves within a trading band of 2 per cent either side of a daily mid point set by the People’s Bank of China, was 0.2 per cent weaker at Rmb6.7738 per dollar. The offshore rate, not constrained by the same rules, was 0.1 per cent weaker at Rmb6.7806.

The Australian dollar was also 0.1 per cent weaker at $0.719.

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Read Again Forex markets steady after Brexit vote volatility - Financial Times : https://on.ft.com/2ROUNOr

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