British pound gets market's vote

British pound gets market's vote

On Wednesday, the British pound stole center stage in Asia amid rumors that the UK’s sudden decision to call a snap election could potentially deliver a more market-friendly outcome in its divorce from the EU.

Safe-havens stood in favor as gold along with bonds soared ahead of presidential elections in France and on surging tensions between the USA and North Korea.

Equities were mostly shunned with MSCI's broadest index of Asia-Pacific stocks outside Japan, tumbling 0.6%, hitting the lowest value since mid-March.

Japan's Nikkei N225 steadied for the moment, though Shanghai extended its recent retreat with a1.4% sag. Meanwhile, the Chinese market has decreased for four straight sessions, following worries over tighter regulations.

The British pound was just off a six-month top against the greenback having soared when British Prime Minister Theresa May suddently called an early general election for June 8, in an attempt to strengthen her party's majority ahead of Brexit talks. 


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