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Pound Strong Again Amidst Ongoing Brexit Drama

By Matthew WellerMarket OverviewSep 10, 2019 03:12AM ET
www.investing.com/analysis/pound-strong-again-amidst-ongoing-brexit-drama-200463150
Pound Strong Again Amidst Ongoing Brexit Drama
By Matthew Weller   |  Sep 10, 2019 03:12AM ET
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Daily % Candles
Daily % Candles

  • FX: It was another day of drama in London, including Speaker Bercow announcing his resignation, but at the end, the pound was the strongest major currency. Safe haven currencies like the Japanese yen and Swiss franc.
  • Commodities: Gold edged about 0.5% lower on the day, while oil surged nearly 3% to a 1-month high.
  • US Cash Indices% Change
    US Cash Indices% Change

  • US indices closed mixed in relatively quiet trade.
  • Energy (XLE) and Financials (XLF) were the strongest major sectors; Technology (XLK) brought up the rear.
  • Stocks on the move:

  • AT&T (NYSE:T)rallied more than 1% on news that activist fund Elliott has taken a stake in the company and is pushing for a breakup.
    • Cloud software stocks like Slack (WORK, -9%), Zoom Video Communications (ZM, -8%), and Twilio (TWLO, -10%) all fell sharply as investors questioned their elevated valuations.

    Economic Calendar
    Economic Calendar

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    Pound Strong Again Amidst Ongoing Brexit Drama
     
    Pound Strong Again Amidst Ongoing Brexit Drama

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