April 25, 2016: The GBP is the strongest. The USD is the weakest.
As North American traders enter for the trading day, the greenback is the weakest currency while the GBP is the strongest.
The GBP was buoyed by better than expected CBI data. President Obama did his best Friday and over the weekend to help the "No Brexit" vote. On Friday he warned how Brexit would be detrimental to the UK. Over the weekend he said that negotiating a US-UK trade deal could take up to 10 years. That is some scary stuff which perhaps is leading to a more positive flow into the GBP. It is the fence sitters who are going to be bombarded with the negatives between now and the vote.
The USD is weaker against all the major currencies with the exception of the CAD. Most of the damage comes against the European currencies (EUR, CHF, GBP). The USDJPY is also trading near session lows as NA traders sit down. Stock markets are lower in Europe (Dax down -0.62%, Euro Stoxx down -0.77% and UK FTSE also down -0.77%). Remember Australia and New Zealand had a 3 day weekend as they observed ANZAC Day.
The ranges and changes are outlined below. All the major currencies are trading below their 22-day averages
New homes sales will be released at 10 AM ET/1400 GMT with expectations of 520 K vs. 512K. The Dallas fed manufacturing index will be released at 10:30 AM with expectations for April at -10 vs. -13.6 last month
