Live Europe Open: Recovery in risk
|The atmosphere has certainly improved in markets once the contest for the next UK PM has been cleared. The entry of Theresa May into Downing Street today ends the uncertainty about the leader but still leaves many questions open: when will the UK leave and what will be the nature of the new deal. The mood could turn sour but for now GBP/USD is already 500 pips off the lows. Also USD/JPY is on a roll following plans for more stimulus, even though the so-called "helicopter money" could wait for after the US elections. Elsewhere, EUR/USD is still stuck in range despite all the problems and commodity currencies are looking better.
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