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On Monday, the UK’s sterling found itself the only substantive mover among key currencies, reviving some ground after weekend surveys demonstrated that Prime Minister Theresa May is braced for winning next week's elections even if the scale of win is quite questionable.
The British pound faced its worst day since early February, and this currency slumped nearly 2 cents the previous week because survey revealed that May's lead over the opposition Labor Party had dropped from 20 points to 5 the previous month in one survey.
With London markets unavailable for a holiday, the British pound jumped 0.2% during thin morning trade in the EU, showing $1.2825 as well as 87.13 pence per euro respectively.
The evergreen buck that was also suppressed the previous week amid dropping expectations for a key boost for surge from the Trump administration, stood still, keeping to $1.1175 per euro and also 111.33 yen.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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