FXMarketAlerts Team
FXMarketAlerts
Published at 04:58 (GMT) 22 May
Guardian: An internal Liberal Democrat document reveals that the party is braced for a complete wipeout in the European parliamentary elections.
Senior party figures have been briefed to say that a failure to win any seats should be "expected" at this stage in the electoral cycle for a governing party. The document, the contents of which have been leaked to the Guardian, advises Lib Dem spokespeople about what to say if the party wins between no seats and two seats in Strasbourg.
On FX, some focus on the European Parliament elections starting today, May 22-25. Limited impact seen on FX, with anti-EU parties seen doing well. GBP/USD at 1.6889-90, looking bid - after BoE minutes/ UK retail sales. It traded range of 1.6855 to 1.6921 on Wed. Range of 1.6884 to 1.6903 so far today. Supported by EUR/GBP sales, GBP/JPY demand, but weighed by GBP/AUD sales on AUD rally after the stronger China HSBC PMI. GBP/AUD at 1.8220-25. down from 1.83 handle. Bids in GBP at 1.6850-60 - real money, funds, UK clearers, Asian accounts.
EUR/GBP at 0.8095-97, looking offered after fall through 0.8100 Option barriers to 16-, lows 0.8085. offers 0.8130-50, bids at 0.8080-90. Stops below. WL
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