By Chris Becker
The hard Brexit speech turned into a hard dash for the buy button as overly bearish Pound traders were caught flat footed by the language rich/detail light speech from the UK PM Theresa May overnight. The USD fell pulling Euro and the other majors up, which will spillover to flagging confidence in Asian stocks today.
First to Asia yesterday where the Shanghai Composite was losing before lunch but managed to eke out a scratch session to finish the day in the green. There’s talk of more direct intervention in the stock market by authorities – check out that tail – so I expect terminal support here at 3100 points to hold for now, maybe:
