Sterling Well Bid in Overnight Trade; Kiwi Underperforms

Sterling has been the standout outperformer in the overnight session of trade with the better than expected Nationwide HPI report, positive M&A related flows and negative outlook on the German banking system all helping to bolster the single currency. The Dollar is generally offered across the board as currency, commodity and equity bulls look to take advantage of the latest dips to build on existing long positions.