Forex news for US trading on April 18, 2017:
Markets:
– Cable climbs 2.2% to touch a six-month high
– S&P 500 down 7 points to 2342
– Gold flat at $1289
It was all about the pound today after Theresa May called a snap, surprise election. The pound sold off at first as the rumours spread but had a quick re-think and bought GBP. No doubt, part of that was because shorts were so crowded. But also factor in that it will give May a stronger hand and a more stable mandate. There’s also talk that she could reposition the UK for a softer Brexit.
