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Intra-day Market Moving News
20 Sep 2018 10:56 EUR/GBP - 0.8856... News fm Reuters, BBC political editor Laura Kuenssberg says on Twitter: 
- October council too soon for a deal in UK 
- PM May might have confirmed to Irish PM that October council too soon for a deal 
Reuters later reported British Prime Minister Theresa May has indicated that she believes October is too soon to reach agreement on a deal with the European Union on the Irish backstop issue, BBC political editor Laura Kuenssberg said on Twitter. 
Kuenssberg was retweeting and commenting on a tweet from RTE Europe Editor Tony Connelly, which quoted sources saying that May had told Irish Prime Minister Leo Varadkar that a deal would not be reached in time for a European Council meeting in October. 
20 Sep 2018 10:28 EUR/GBP - 0.8857... Reuters then reported Britain and the European Union will have to discuss again plans for a future economic partnership after Brexit because the two sides have failed so far to find a "landing point" for an agreement, a French official said on Thursday. 
The official from President Emmanuel Macron's Elysee Palace also said the unity of the EU's 27 other leaders was holding in the talks to end Britain's membership of the bloc, and that a November summit should not be set in stone, as the two sides should make as much progress as possible by October. 
20 Sep 2018 10:20 EUR/GBP - 0.8857... Reuters news, French Elysee official says : 
- for now the unity of the EU 27 is holding on Brxit 
- we see in the final straight on Brexit that there is the temptation of bilateral talks 
- on economic partnership after Brexit, we will have to re-discuss as currently we have no landing point 
- extra Brexit summit should not be set in stone because Oct summit should make maximum progress 
- we are prepared to hold Nov Brexit summit if necessary 
- we don't know what additional proosals on the backstop British PM May will make 
20 Sep 2018 10:19 USD/CHF - 0.9659... Reuters news, Swiss National Bank's Jordan says : 
- sees no danger of overheating in Swiss economy 
- stronger franc is the main reason for retaining expansive monetary policy 
- would immediately have too restrictive monetary conditions without negative interest rates, readiness to intervene in market 
Reuters then reported the recent rise in the Swiss franc's value was the main factor why the Swiss National Bank kept its monetary policy unchanged, SNB Chairman Thomas Jordan said on Thursday. 
"The franc has appreciated, which has also led to a tightening of monetary conditions," Jordan told Swiss broadcaster SRF. "That is also the main reason why our monetary policy must remain expansive." 
20 Sep 2018 10:02 Reuters reported North Korean leader Kim Jong Un wants to quickly complete denuclearisation and meet U.S. President Donald Trump to hasten the process, South Korean President Moon Jae-in said on Thursday, following a summit with Kim this week. 
"Kim Jong Un expressed his wish that he wanted to complete denuclearisation quickly and focus on economic development," Moon told a news conference in Seoul on his return from meeting Kim in the North's capital of Pyongyang. 
"He said he hoped (U.S. Secretary of State) Mike Pompeo would visit North Korea soon, and also a second summit with Trump would take place in the near future, in order to move the denuclearisation process along quickly," Moon said. 
20 Sep 2018 09:53 GBP/USD - 1.3215... The British pound traded with a firm bias in Asia n continued to edge higher to 1.3159 at European open. Intra-day rise accelerated in early Europe on Brexit optimism n price jumped on the back of robust UK retail sales n price penetrated y'day's fresh 8-week high at 1.3215 to 1.3217 b4 stabilising. 
Since mkt moves are mainly driven by Brexit headlines these days, traders shud keep a keen eye on the newswires. Bids are now raised to 1.3190/00 n more below at 1.3170/80 with stops building up below there whilst initial offers are noted at 1.3270/80, suggesting choppy trading with upside bias wud be seen.
20 Sep 2018 09:22 USD/JPY - 112.25... Reuters news, Japan PM Abe says : 
- will reshuffle Cabinet after returning from UN General Assembly meeting 
20 Sep 2018 08:43 EUR/GBP - 0.8864... Reuters news, Irish Foreign Minister says : 
- of course we will be flexible on backstop but cannot be flexible on outcome of no hard border 
20 Sep 2018 08:41 GBP/USD - 1.3190... Reuters reported British shoppers kept up their strong summer spending spree in August and showed no sign that the approach of Brexit is making them cautious, official data showed on Thursday. 
In another sign that the country's overall economy is on track for solid growth in the third quarter of 2018, retail sales jumped by 3.3 percent compared with August last year, stronger than all forecasts in a Reuters poll of economists. 
That was slightly slower than an upwardly revised 3.8 percent leap in July but that jump was widely seen as a response to the soccer World Cup and soaring summer temperatures. 
In monthly terms, sales rose by 0.3 percent in August from July, the Office for National Statistics said, defying the median forecast in the Reuters poll for a fall of 0.2 percent. 
20 Sep 2018 08:21 EUR/GBP - 0.8872... Reuters news, Irish Foreign Minister says : 
- I believe a Brexit deal will be done 
- intensification of Brexit talks that is required has not happened 
20 Sep 2018 07:54 EUR/GBP - 0.8877... Reuters news, UK's Liam Fox is plotting to scrap EU food stands to win a Brexit trade deal with Trump - Business Insider 
UK's Liam Fox wants to alter food standards through the trade bill - Business Insider 
20 Sep 2018 07:53 EUR/GBP - 0.8879... Lithuania President says : 
- no progress on Brexit, stand-off still in place 
20 Sep 2018 07:47 EUR/GBP - 0.8878... Reuters reported Britain is over 85 percent of the way to agreeing a deal with the European Union on its exit from the bloc, Cabinet Office minister David Lidington told Irish radio on Thursday, adding that a deal could be reached by October or November. 
"The withdrawal agreement - we're 85 percent...90 percent of the way to fixing the text," Lidington said. 
When asked if a deal was possible by an October or November deadline, he replied: "Yes I believe that there can be, and I remain, despite the outstanding difficulties, I remain optimistic." 
He said that the key outstanding element to be agreed was what has become known as the Irish backstop issue. 
20 Sep 2018 07:41 USD/CHF - 0.9673... Reuters reported the Swiss National Bank kept its ultra-loose monetary policy in place on Thursday, citing the "fragile" exchange rate situation and rising international trade tensions and protectionsm. 
The SNB kept its target range for the three-month London Interbank Offered Rate (LIBOR) at -1.25 t -0.25 percent, as unanimously forecast by 36 economists polled by Reuters. 
20 Sep 2018 07:31 USD/CHF - 0.9663... Reuters news, SNB says : 
- will remain active in foreign exchange market as necessary 
- will remain active in the foreign exchange market as necessary, while taking the overall currency situation into consideration 
- Swiss franc is highly valued, and the situation on the foreign exchange market is still fragile 
- negative interest rate and the SNB's willingess to intervene in the foreign exchange market as necessary remain essential 
- signals for the coming months remain favourable 
following strong growth in the previous quarters, the pace is expected to slow slightly 
- risks to this positive baseline scenario are more to the downside 
- chief among risks are political uncertainties in some countries as well as potential international tensions and protectionist tendencies 
- imbalances on the mortgage and real estate markets persist 
- imbalances on the mortgage and real estate markets persist 
- will continue to monitor developments on the mortgage and real estate markets closely, and will regularly reassess the need for an adjustment of the countercyclical capital buffer 

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