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Pound Sterling Buyers Still Watching UK Bond Market Closely
There will inevitably be high volatility over the next few days with the US election, together with US and UK interest rate decisions. ING commented; “Expect volatility in USD crosses today and tomorrow as FX liquidity may tighten and large hedging positions may be re-assessed on the back of latest sentiment on the vote. Today’s momentum seems to be pointing to a weaker dollar, but things can turn rapidly in intraday trading.” MUFG added; “With the US election outcome on a knife edge, we are expecting an outsized market reaction.” The dollar overall has posted significant losses on Monday with the Pound to ... (full story)