The british pound has held steady overnight as today is the day we start UK parliamentary elections. Polls have so far suggested that Theresa May’s party could be able to constitute a parliamentary majority after the results of today’s elections. A majority that could give her more clout when it comes to Brexit negotiations.
Overnight data out of Australia saw the AUD weaken after an unexpected and significant decline in trade surplus for the month of April. AUDUSD initially weakened to session lows of 0.7524 to eventually recover back 0.7550 levels.
The Euro is holding well ahead of the ECB rate decision and the communication expected to be communicated later this afternoon. EURUSD has remained virtually unchanged after opening today’s session at 1.1256.
Aside of the ECB event we are then left with the weekly jobless claims out of the US.
