G10 FX Daily Report

G10 FX markets are dominated by UK political turmoil surrounding PM Starmer and anticipation of a hot US CPI print. Analysts are favoring CHF as a funder and looking for opportunities in AUD and NOK against weaker crosses like CAD and SEK.

Key Takeaways

• 1.Sterling (GBP) is under significant downward pressure as UK Prime Minister Keir Starmer faces an internal leadership challenge with over 80 MPs calling for his resignation.
• 2.The market is heavily focused on the upcoming US CPI print; a 'hot' reading is expected to shift the Fed's focus back toward price stability.
• 3.The Swiss Franc (CHF) is increasingly being used as a funding currency (carry trade) due to SNB pushback against currency strength.

Table of Contents

• EUR
• GBP
• JPY
• CHF
• AUD/CAD
• NOK/SEK

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