GBP/USD: David Davis’ Brexit bonanza hits Vienna today, where they have a right- leaning Eurosceptic coalition government, a poll published..Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

GBP/USD SHORT TERM TRADER: Small long at 1.3885; stop below 1.3900. Target 1.4200.

GBP/USD POSITION TAKER: Long at 1.3930; stop below 1.3900. First target 1.4275, then 1.4650.

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Punjab National Bank faces downgrade Fraud at Mumbai branch

Ratings agency Moody’s today said that India’s second biggest state lender, the Punjab National Bank, was under review for a downgrade. This follows the bank’s announcement on Wednesday that its branch in Mumbai had been targeted by businessmen, aided by branch staff, who received loans worth $1.77 billion which had avoided the normal approval channels. Shares in the bank are off by 31 per cent since last week’s announcement.

Today Venezuela launches its version of a crypto-currency, the ‘petro’. Backed by blockchain technology it’s said to be worth a barrel of the nation’s oil. It is unclear whether buying it might break current sanctions against the country.

Financial & Political Commentary

 

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