GBP – Sterling fell on Wednesday, staying close to a near three-week low amid worries for the UK economy and investor nervousness about a confidence vote on British Prime Minister Boris Johnson that has left him politically vulnerable.
Commenting on UK political uncertainty, ING notes that “sterling will face more volatility around two UK by-elections to be held on 23 June – both of which the Conservatives stand a real risk of losing. Yet the Conservatives still retain a substantial majority in the Commons and if anything, pressure at the polls could translate into earlier tax cuts to appeal to the base”.
JPY – Japanese policymakers held fast to their usual line on yen weakness on Wednesday, stating that rapid moves were undesirable, but confounded expectations they may escalate warnings about the sliding currency as it fell to fresh 20-year lows.
Summarising today’s comments, Mizuho Bank explains that “there’s no clear threshold as to when policymakers may escalate warning against weak yen. Then may wait until it tops 140 yen. With voters’ support staying high, policymakers appear complacent. Therefore they did not want Kuroda to say something unnecessary to rock the boat.”
Commenting on UK political uncertainty, ING notes that “sterling will face more volatility around two UK by-elections to be held on 23 June – both of which the Conservatives stand a real risk of losing. Yet the Conservatives still retain a substantial majority in the Commons and if anything, pressure at the polls could translate into earlier tax cuts to appeal to the base”.
JPY – Japanese policymakers held fast to their usual line on yen weakness on Wednesday, stating that rapid moves were undesirable, but confounded expectations they may escalate warnings about the sliding currency as it fell to fresh 20-year lows.
Summarising today’s comments, Mizuho Bank explains that “there’s no clear threshold as to when policymakers may escalate warning against weak yen. Then may wait until it tops 140 yen. With voters’ support staying high, policymakers appear complacent. Therefore they did not want Kuroda to say something unnecessary to rock the boat.”
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.