Brexit forever looming
EUR/USD is trading below 1.1600, snapping a three-day uptrend amid a rebound in the US dollar alongside the Treasury yields. The risk sentiment remains low amid growing worries over inflation and the Chinese indebted property sector. All eyes on US inflation.
GBP/USD is holding steady at around 1.3550 amid a small US dollar rebound and looming Brexit risks. Contingency plans for the UK trade war with the EU. US inflation data, Brexit updates in focus.
GBP/EUR struggles for clear direction around 1.1695, fading the previous day’s bounce off 50-DMA during early Wednesday (DMA is a reliable technical indicator used by several investors to analyze price trends).