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GBP up on vote to block no-deal Brexit


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US equities rebounded after New York Federal Reserve (Fed) President John Williams said that central bankers should act quickly to lower interest rates at the first sign of economic distress. Although a 25-basis-point rate cut would perhaps do as a preventive measure to support the economy, equity investors thought otherwise. The US 10-year yield eased to 2.02%. The probability of a 50-basis-point cut in FOMCs July meeting rose to 40%. The S&P500 gained 0.36% and Nasdaq closed 0.27% higher.

Gold surged to $1350 for the first time since May 2013 on tumbling US yields.

Read the full LCG article

https://www.lcg.com/int/analysis-education/market-reports/articles/gbp-up-on-vote-to-block-no-deal-brexit/



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Ipek Ozkardeskaya is a senior analyst at MBAex with a solid experience in the financial industry. She has strong technical background in economics and quantitative finance. Previously, she worked as a senior market analyst in London Capital Group, FX strategist in Swissquote Bank and as a client sales executive at HSBC Private Bank in Geneva. She also developed quantitative models in automatic trading as part of BCV’s Structured Products team. Ipek has a Master’s degree in Financial Engineering & Risk Management and a Bachelor degree in Economics from University of Lausanne.
 
Contributing  author since 11/09/2017

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