Market Brief: GBP Hurt By Poor Services PMI
FOREX.com | Nov 22, 2019 12:41
Market update: In FX, GBP and to a lesser degree EUR sold off this morning although both were off their worst lows but still down on the day following the earlier release of poor services PMI data from the UK and Eurozone. Stocks were higher, although mainland European indices came off their best levels while FTSE was up 1% at the time of writing, supported by a weaker sterling.
Gold was up as German, UK and US 10-Year yields fell, and the yen strengthened. Crude Oil was a touch higher after two days of sharp gains. The price of Bitcoin (BitfinexUSD) dropped to its lowest level since May, reaching a low so far of $6930.
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