Spreadex Market Update
Asian markets open higher
Despite Moody downgrading the UK’s AAA credit rating late Friday, FTSE futures are indicating a slightly higher open with other European indices following suit. Signs from the US and Japan indicate they will continue with their monetary policy for some time yet. Gains could be limited as investors continue to keep a close eye on the second day of the Italian elections. Initial estimates of the results are due at 3 p.m in Rome.
The Yen fell to the lowest level since 2010 on speculation the Prime Minister Shinzo Abe will nominate Haruhiko Kuroda as central bank governor. Earlier comments from Kuroda indicated that there is substantial room for easing, signalling he may embrace stronger stimulus measures that could further weaken the currency.
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