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Forex Market Review (European Session) – Pound resumes slide; dollar weighed by US tech sell-off

Posted on June 12, 2017 at 3:19 pm GMT

The pound was once again the worst performing major currency on Monday as the May government’s stance on Brexit added renewed pressure on the British currency. The dollar did not fare much better as weaker US equities weighed on the greenback ahead of this week’s FOMC meeting, while the yen benefited from the increased risk aversion to advance higher against all major pairs. Having stabilized late on Friday and in Asian trading today, the pound resumed its downtrend at the [..]

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Forex Market Review (Asian Session) – Sterling steady after UK election tumble; euro up after French parliamentary elections

Posted on June 12, 2017 at 7:20 am GMT

Sterling has stabilized after Friday’s big tumble against the dollar following the shock UK election result that brought about political uncertainty. Prime Minister Theresa May was left with a minority government and she reshuffled her cabinet over the weekend. Focus turns to the Brexit negotiations that begin in about a week. Meanwhile, the Bank of England holds a policy meeting on Thursday. This would be the next risk event for the pound, which continued to trade below the key $1.2800 [..]

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Forex Market Review (Asian Session) – Sterling plunges on political uncertainty after inconclusive UK election result; dollar steady after Comey testimony

Posted on June 9, 2017 at 7:44 am GMT

Sterling plunged on political uncertainty after an inconclusive result in the UK general elections that took place on Thursday, with no single party having a clear claim to power. The dollar moved higher as it was unfazed by former FBI Director James Comey’s testimony yesterday. The British pound lost over 2% against the greenback, touching near a two-month low of $1.2634. The euro surged against sterling to a high of 88.58 pence. Exit polls showed the likelihood of a hung [..]

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Forex Market Review (European Session) – Euro falls after not-so hawkish ECB; sterling off 2-week high ahead of UK election outcome

Posted on June 8, 2017 at 2:32 pm GMT

The much-awaited risk events taking place over the course of the day began with the European Central Bank policy meeting followed by the press conference by President Mario Draghi. The UK general elections are in progress with exit polls expected at 21:00 GMT. The euro briefly dipped below $1.1200 after the ECB policy decision was announced as the market was looking for a more hawkish signal. The ECB left rates unchanged as was widely expected but dropped its easing bias [..]

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Forex Market Review (Asian Session) – Sterling hits 2-week high ahead of UK election; euro steady with focus on ECB; dollar soft into Comey hearing

Posted on June 8, 2017 at 7:24 am GMT

Currency markets were showing signs of caution ahead of key risk events later in the day. Risk aversion supported gold and the yen. The euro and sterling held steady while the dollar index wallowed near seven-month lows. Investors are bracing for the European Central Bank’s policy meeting and for the UK general election. All eyes will also be on former FBI Director James Comey’s congressional testimony. In terms of economic data, the downside miss on Australia’s April trade surplus pushed [..]

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Forex Market Review (European Session) – Dollar flat ahead of Triple Threat Thursday; inflation concerns hurt the euro

Posted on June 7, 2017 at 2:59 pm GMT

Today’s European session was light in terms of economic data with notable market reaction only being evidenced after the release of UK house price data. Market participants are now turning their attention to tomorrow’s main risk events, which have the capacity to generate significant volatility in the markets. Tomorrow has been dubbed as “Triple Threat Thursday” as three major risk events will dominate investors’ attention. Namely, Brits will be called in to vote in a national election, the European Central [..]

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