Morning Update – 11/11/2016 – by Arjun Lakhanpal

Morning all.. Wall St had another strong finish (Dow at record highs) after a small wobble at the open and closed up 0.2% in S&P but 1.1% on the Dow.. A solid session considering dollar strength.. Asia was a little mixed as some Asian currencies were under pressure from the USD and the Trump win. The Nikkei was rather subdued, closing up just 0.18%. USD held on to most of its gains with USDJPY sitting around 106.50 most of the session. GBP strength still a feature as UK seen as a friend of Trumps and GBP continues to trade well against the EUR and the USD. With little key drivers or releases into the end of the week, the market enters into a relative ‘calm after the storm’ as all G10 FX currencies settle within ~25bp ranges compared to yesterday’s LDN close. Commodity complex currencies were the only FX to trade lower on the margin versus the USD with NZD in particular the largest mover, down ~25bps. The onset of the post-Trump victory has begun to take affect with the incoming US President’s spokesperson outlining Dodd-Frank regulation will be replaced with new policies to encourage economic growth and job creation. Whilst plans to scrap Obamacare and the Trans-Pacific Partnership are also in Trump’s plans in his first 100 days of office. This morning we get UK Construction output and thats it so maybe a little quieter. Good luck..