Pound and Yuan Start the Week on a Negative

The dollar strengthened and the pound extended its decline from Friday, while the offshore yuan had its biggest two-day drop since June. European shares were mixed and U.S. equity futures pointed higher following gains in most Asian markets.

The Dollar Index edged higher after U.S. jobs data for December bolstered the case for the Federal Reserve to raise borrowing costs this year. The yuan extended its decline following the biggest loss in a year, while the worst performing major currency was the won, which dropped the most in two months. U.K. shares continued to climb, while German and broader European equities fell. Hong Kong stocks traded near a one-month high and Singapore equities rallied to the highest since November 2015. Markets in Japan were closed for a holiday.

Bloomberg

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