Traders are expecting a volatile day for the pound and UK shares after the election resulted in a hung parliament. Overnight the pound fell sharply, at one stage hitting $1.27 against the dollar, before recovering slightly. Traders had been expecting a clear victory for Theresa May’s Conservatives, but are now concerned about political uncertainty. The … Read more
Pound slumped by more than two cents to $1.2717 after the exit poll was announced The pound is down sharply after early election results and the exit poll cast doubt over whether the Conservatives will win an overall majority. The exit poll forecast may not be reflected in the final result, but traders had been … Read more
Commodity-related sectors led European shares lower for a third straight session on Friday while the dollar was poised for a weekly losses as the “Trumpflation trade” lost momentum. World stocks have hit record highs, emerging markets have come back in favor and the dollar has climbed to a 14-year peak in recent weeks on the … Read more
1. Dollar slump: The U. S. dollar is losing ground against major currencies in the wake of President Donald Trump’s inauguration. “President Trump’s inaugural address has been interpreted as a retreat from America’s global leadership role,” said Paul Donovan, global chief economist at UBS Wealth Management. “The vehemence in his address is causing markets to … Read more