Spreadex Market Update
Cable hits 2 week high as Britain heads to the ballot box
"It is going to be interesting to see how the UK index behaves in contrast to the pound, and whether the two will rise in tandem if the Tories secure a landslide victory."
With sterling in ascendance the FTSE found itself flat after the bell, opening below 7500 for the first time in nearly 3 weeks. It is going to be interesting to see how the UK index behaves in contrast to the pound, and whether the two will rise in tandem if the Tories secure a landslide victory.
While investors’ focus is undoubtedly on the election, the Eurozone is having a good go at providing a distraction this Thursday with the month’s ECB meeting. The euro has already suffered on reports that the central bank would be cutting its inflation forecasts, something that would push any potential rate hike further down the road, so reaction may be muted unless Mario Draghi and co. reveal anything else of interest.
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