• Pound and US Dollar both lower

    24 hours can be a long time in politics and most certainly in currency markets. We've now seen renewed Pound selling after a lack of any hawkish tones from the BOE speakers and general USD supply/Yen demand as Trump/Russia headlines once again dominate the landscape. Trump Jr's revealing of email exchanges with Russian contacts prior to last year's US election has added to the growing pressure on his father.

    GBPUSD has been down to 1.2831 after 1.2927 highs as neither BOE MPC members Haldane or Broadbent offered any cheer to the bulls while EURGBP has rallied further to 0.8939 (GBPEUR down to 1.1186) as the Euro continues to be the best of a bad bunch.Overall the Pound remains on the back foot as we wait on the latest UK jobs/wages data this morning.

    EURUSD has been up to 1.1490 while USDJPY has tumbled to 113.32 from yesterday's 114.49 highs.USDCHF has fallen to 0.9620 but losses tempered by further EURCHF gains to 1.1060.

    The Aussie $ and Canadian $ both remain underpinned with Bank of Canada meeting today in focus and expectations of an interest rate hike still in play.

    Today US Federal Reserve head Janet Yellen delivers her latest testimony and we'll be keen to see if she offers any clues on the next anticipated rate rise.

    Don't forget to place your orders to maximize gains/minimize losses in these roller coaster markets.

    Have a good day one and all.

    Interbank Rates 06.05 BST

    GBPUSD 1.2852

    EURUSD 1.1484

    EURGBP 0.8932

    GBPEUR 1.1193

    USDJPY 113.42

    AUDUSD 0.7652

    USDCAD 1.2899

    GBPAUD 1.6798

    GBPCAD 1.6582

    GBPCHF 1.2370

    GBPZAR 17.3765

    GBPHKD 9.9649

    EURHKD 8.9036

    GBPSGD 1.7740


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