Currencies: The British pound rises a little after its decline the day before



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London (awp / afp) – The pound sterling on Wednesday against the euro and the dollar, after its sharp drop the day before and in a quiet market despite the many events on the agenda.

Around 10:00 GMT (11:00 CET), the pound was worth 1.3109 dollars against 1.3066 Tuesday at 22H00 GMT and traded at 87.20 pence for one euro, against 87.49 Tuesday.

The single currency, for its part, stabilized against the dollar, 1.1431 dollar for one euro against 1.1433 the day before.

Tuesday night, the British currency had fallen sharply after the rejection of an amendment that could have pushed a few months the exit of the United Kingdom from the European Union.

According to Kit Juckes, an analyst for Societe Generale, "this leaves alive the possibility of an exit without agreement, even if the hypothesis remains improbable".

The British MPs voted against a Brexit without agreement, but this amendment, adopted by a narrow margin, is not binding. They also mandated Prime Minister Theresa May to amend the agreement, an option that the European Union rejected in the wake.

If the pound could remain vulnerable in the coming weeks, there are also elements that could support it, according to Lee Hardman, analyst for MUFG, who cites the fact that there is still no majority for a "no deal" and that opposition leader Jeremy Corbyn has said he is ready to meet Theresa May to discuss.

Aside from Brexit, "all eyes are on early trade talks between Chinese and American officials in Washington," said Neil Wilson, an analyst for Markets.com.

The talks, which begin later in the day, will continue until Thursday, in a climate of extreme tension fueled by the series of charges against the Chinese telecom giant Huawei and one of its leaders.

Finally, after the European closing, investors will follow the conclusion of the meeting of the Fed's monetary committee, the US Central Bank, before the publication of the figures on employment, expected Friday.

"The real stake of this meeting will be to provide an answer to a nagging question of the market" concerning a possible stop of the monetary tightening, evoked by the press at the end of last week, estimated the analysts of Saxo Bank who count on " a clear denial ".

Around 10:00 GMT Wednesday, the dollar stabilized against the yen, 109.37 yen to the dollar against 109.40 Tuesday at 2200 GMT, and the euro was worth 125.03 yen, against 125.07 yen the day before 2200 GMT .

The Swiss franc depreciated against the euro, 1.1366 Swiss francs for one euro against 1.1399 on Tuesday, and against the dollar, 0.9961 Swiss francs for a greenback against 0.9946 Tuesday.

The Chinese currency was trading at 6.7161 yuan to the dollar, compared with 6.7344 at 15.30 GMT the day before.

The ounce of gold was worth $ 1,313.66, an hour and a half after rising to $ 1,316.35, its highest level since mid-May. Tuesday night, the ounce of gold was worth $ 1,311.79.

Finally, the bitcoin was trading at $ 3,413.62 against 3,401,14 Tuesday night, according to figures compiled by Bloomberg.

        
        
        
        Wednesday class Tuesday class
        10:00 GMT 22:00 GMT

EUR / USD 1.1431 1.1433

EUR / JPY 125.03 125.07

EUR / CHF 1,1386 1,1369

EUR / GBP 0.8720 0.8749

USD / JPY 109.37 109.40

USD / CHF 0.9961 0.9946

GBP / USD 1.3109 1.3066

afp / jh

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