European markets are lower amid NAFTA

GBP held strong in Asian session today. After hitting its biggest gains in more than 6 months yesterday. The reason probably for the gains is the European Union's offer of a post-Brexit 'partnership'. The English pound went down as fears and uncertainty was the main theme for the past month that a possibility of a 'hard Brexit' was probable. Ease came after Michel Barnier gave the signal of an accommodative stance towards London in ongoing talks. Barnier said that the bloc was ready and prepared to offer the UK a good partnership pack though no "single market a la carte", which gave risk sentiment. Sterling went up about 0.09% to a one month high of $1.3040, and extended its gains after surging more than 1.2 percent overnight, its largest daily gain since Jan. 24. Yunosuke Ikeda, chief forex strategist at Nomura Securities said "The news is likely to have triggered short-covering by some traders who held sizable net short positions in the pound, assuming little progress was being made before the (Salzburg) EU summit on September 19-20,"

The AUD/USD pair went below after the new selling pressure on today and is currently at weekly lows around the 0.7275 level. The pair was struggling to build on last night rebound and came across with some new supply to resume with this week's rebound from the 0.7350 supply level. The very disappointing domestic data that was released earlier during the Asian market session today, was one of the main factors that created a negative sentiment for the Australian Dollar and exerted fresh downward pressure for the third consecutive session.