North Korean athletes, Kim Jong Un’s sister and the North Korean head of state seem to be leaving good impressions. On the other hand, there has been some talk about a possible negative impact on S.Korean-Japanese relationships. Media reports suggest that the common US-S.Korean military exercises maybe postponed ahead of possible North-South Korean meeting in Pyongyang. We stand by our view that the charm offensive maybe a result of the extended sanctions imposed to North Korea. Improved relationships could stabilise the region for a while, supporting JPY in the long run, should there be no split in the current S.Korea-Japan alliance.
- Support: 108.30(R1), 106.95(R2), 105.65(R3)
- Resistance: 109.20(S1), 110.40(S2), 111.30(S3)
Theresa May attempts to bring unity to the conservative party
Theresa May and other UK senior ministers will deliver a series of six speeches in the coming days regarding Brexit. The speeches aim to outline the “Road to Brexit”, according to media outlets. EU officials had set in doubt the transition period lately, as they find unclear what the UK Brexit aims actually are. The fore coming speeches are also aiming at uniting the Conservative party though. It would be indicative that the first speech is to be delivered by Boris Johnson, UK’s Foreign Minister, and Brexit advocate. We see the case for the actions to support the GBP.
- Support: 1.3750(S1), 1.3590(S2), 1.3338(S3)
- Resistance: 1.4040(R1), 1.4168(R2), 1.4325(R3)
Today’s and coming weeks other economic highlights:
No major economic events expected today.
Tuesday: UK CPI rate for January.
Thursday: Australia’s Unemployment report for January.
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