The prospect of a no-deal Brexit continues to pound sterling lower. A little more than two months ago, it was testing $1.32. Two weeks ago it was around $1.25. Today it traded near $1.2120 before stabilizing. On the other hand, the 10-year Gilt yield is below 65 bp, a new multiyear low, while the international-laden FTSE 100 is holding its own in the face of heavier equity prices in Europe. The major equity markets in the Asia Pacific region rose except for Taiwan, which some linked to the anticipation of Apple's earnings later today. Led by financials, utilities, and industrials, the Dow Jones Stoxx 600 is off around 0.5% near midday. US shares are little changed. Benchmark 10-year yields are edging lower today, though the yields in the periphery of Europe are a little firmer. The US dollar is narrowly mixed. While Brexit is a drag on sterling, disappointing Swedish GDP figures (-0.1% vs. expectations of +0.3%) have weighed on the krona. The Turkish lira continues to recover and is leading the emerging market currencies higher. The dollar has fallen below TRY5.60 and is at its lowest level in nearly four months. The next important chart area is seen closer to TRY5.40.