Blog


Sterling Stayed Subdued

Sterling stayed subdued, hovering below seven month-highs against the dollar as investors awaited further developments in Britain’s suspended election campaign after a suicide bombing rocked the English city of Manchester.

Britain’s main political parties agreed to suspend campaigning ahead of the June 8 election until further notice following Monday night’s explosion in Manchester that killed 22 people at a concert

Opinion polls at the start of this week showing Prime Minister Theresa May’s lead cut in half, and a U-turn on a controversial policy promise on Tuesday had undermined markets’ faith in a convincing victory for her Conservatives on June 8.

Dealers will look to the Fed’s minutes for more signs of support for the dollar from rising interest rates in the months ahead. In a light week for data, a more detailed breakdown of UK GDP numbers for the first quarter is due on Thursday.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). | Terms and Conditions | Privacy Statement | Careers