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Sterling is up by over 2% versus the dollar, euro and yen (averaged) in light of the unexpectedly large win for the Conservative Party in the UK's general election. With 647 of the 650 House of Commons seats declared, the Conservatives have 362 seats, a gain of 47 seats, versus Labour's 203, a loss of 59 seats. Read more
The DXY bounced from four-month lows of 97.04 in N.Y. trade on Thursday, taking the index to 97.51 highs after the London close. Cooler U.S. PPI, along with a surge in jobless claims saw the USD dip a bit early, though a Trump tweet saying "Getting VERY close to a BIG DEAL with China. Read more
Sterling has seen some chop as the UK public head to the voting booths today, first posting a fresh trend high against the dollar before coming under position-squaring pressure. Cable dropped by over half a big figure after earlier logging an eight-and-a-half high at 1.3229. Read more
The yen has printed fresh lows against the euro, Australian dollar and a number of other currencies, though USD-JPY edged out a two-day low in context of a less than 20-pip range. The declines in the Japanese currency come against the backdrop of global equity markets holding buoyant, although market optimism is guarded about the U.S. Read more
The dollar has seen ranges of no more than 20 pips against both the euro and yen so far today, while posting losses to the Australian dollar and the pound. The UK currency retraced some of the sharp declines seen late yesterday following the release of the latest YouGov poll --- using its famed MRP methodology (massive survey size and deep analysis to take in account of local factors), and which correctly called 93% of seats in the 2017 election -- showing on the eve of the UK's general election that a Conservative majority of 28 seats is likely, down from 68 seats the same poll predicted two weeks ago. Read more
The pound has taken a rotation lower following the latest YouGov poll, using its famed MRP methodology (massive survey size and deep analysis to take in account of local factors), and which was the model which correctly called 93% of seats in the 2017 election, showed that a smaller Conservative majority of 28 seats is likely -- down from 68 seats the same survey predicted two weeks ago. Read more
The Dollar was touch lower in N.Y. trade on Tuesday, though the DXY remained inside of the week's range so far, basing at 97.44 from highs of 97.60 seen during the morning session. A report that the U.S. and China are discussing delaying new U.S. tariffs set to kick off this Sunday, and the USMCA trade agreement announced had mixed impact on the USD, supporting the risk-sensitive USD-JPY, while seeing the Euro post gains as safe-have USD flows were reversed some. Read more
The New Zealand dollar posted a fresh four-month high versus the Australian dollar, while NZD-USD and NZD-JPY saw two-day highs. A shift in RBNZ policy expectations and an associated rise in NZ yields have been underpinning the kiwi. The 10-year U.S. T-note yield advantage relative to the NZ 10-year yield has narrowed by some 15 bps since late November. Read more
The Dollar perked up a bit in N.Y. on Monday, after losing some ground overnight. The DXY remained under Friday's post-jobs report high, with ranges overall remaining narrow. There was no incoming data to drive the FX market, and we now look for some consolidation ahead of Wednesday's FOMC announcement, and Thursday's ECB meeting. Read more
