Asia Stocks at Risk as Euro Stoxx 50, S&P 500 Tumble. Yen May Gain

Asia Pacific Market Open – Brexit, British Pound, Swiss Franc, SP 500, Fed, US Dollar

  • British Pound little changed on Brexit latest as US Dollar weakness worked in its favor
  • SP 500 selloff amplified after Europe trade by pessimistic US home builder sentiment
  • Asia Pacific benchmark stock indexes may follow Wall Street lower, boosting the Yen

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The volatile British Pound managed to brush off Brexit headlines by the end of Monday’s trading session. Earlier in the day, UK Prime Minister Theresa May continued to double down on her Brexit draft. She said that ensuring free-flowing borders with Europe is crucial. This still has her at odds with leavers at a time when her leadership is at risk. The markets reacted by selling Sterling aggressively.

GBP/USD was able to recover as a result of pronounced weakness in the US Dollar during the latter half of the trading session. There, Wall Street ended the day in the red as the SP 500 plunged about 1.66% to its lowest close this month. At

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2018/11/20/Asia-Stocks-at-Risk-as-Euro-Stoxx-50-SP-500-Tumble-Yen-May-Gain.html