Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) Pound Temporarily Bounces Back after May’s Resignation Today, British Prime Minister (PM) Theresa May announced her resignation, set for Friday, June 7. May’s announcement comes after three failed attempts to pass a Brexit deal, confirming mass-speculation […]
Tag: USD drop
Sources are reporting “very high” volumes in FX markets as uncertainty over the outcome of the US election increases.
With some polls still open in the US the financial markets have swung 180 degrees from expectations of a Hilary Clinton victory towards “too close to call” and in some cases a Donald Trump win.
The growing shock of the pollsters once again getting it wrong has seen USD/MXN – the benchmark for the election as far as FX markets are concerned, sky-rocketing almost 12% from 18.30 to 20.48. The impact has been felt elsewhere with USD/JPY dropping sharply from above 105.50 to 101.50 and EUR/USD rising from 1.10 to 1.1231.