Sterling surges broadly today as YouGov predicts a Conservative Win in the upcoming UK election, which puts Brexit on the right track. The Pound also takes Euro slightly higher somewhat. On the other hand, Australian Dollar is generally weaker after poor capital expenditure data. Yen recovers mildly but stays soft after selloff on record closes in US stock indices. For the week, Sterling is so far the strongest one, followed by New Zealand Dollar. Yen and Aussie are the weakest.

Technically, EUR/GBP’s break of 0.85721 support suggests resumption of recent fall from 0.9324 to 0.8472 key support. We’d be expecting downside to be contained there due to loss of momentum. But we’ll see. GBP/JPY also breaks 141.57 resistance to resume the rally from 126.54. Next target is trend line resistance at 143.85. GBP/USD, though, is still bounded in range and focus will be on 1.3012 resistance. USD/JPY’s break of 109.48 resistance indicates resumption of rise from 104.45. Strong rebound from 55 day EMA was a sign of near term bullishness. Next target is trend line resistance at 111.80.

In Asia, Nikkei is down -0.16%. Hong Kong HSI is down -0.26%. China Shanghai SSE is down -0.41%. Singapore Strait Times is down -0.48%. Japan 10-year JGB yield is up 0.0126 at -0.098, back above -0.1 handle. Overnight, DOW rose 0.15%. S&P 500 rose 0.42%. NASDAQ rose 0.66%. All closed at new record highs. 10-year yield rose 0.027 to 1.767.

source_https://www.actionforex.com/