Positive tone holding

The yen is again standing out in overnight activity, extending the losses seen in the wake of weekend upper house elections seen yesterday. The move is significant because the post-Brexit environment had seen the yen strengthen, much against the wishes of the Japanese authorities, so the latest move will be welcome relief. Abe has followed through today, requesting that cabinet colleagues follow up with finer details on spending plans this week. USDJPY finds itself above the 103.00 level, with EURJPY seeing resistance at 114.74/79 area.

The other key move in the past 24 hours has been GBPUSD, where the twists and turns of the UK political environment yesterday meant an accelerated move to a new prime minister as the challenger to the favourite pulled out of the face. That removed a few weeks of uncertaint

Did you know?

Between the years 1860 and 1913, the number of foreign banks operating in London increased from 3 to 71.

Word of the day
"Industrial Production" - An economic indicator that considers manufacturing, mining and utilities in a country or economic region and reports on the total value of the region’s industrial output.
Pro Tip

Never open a trading account with a non-regulated broker.

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