An incredible surprise move by UK Prime Minister Theresa May to propose a General Election on 8th June has significantly impacted forex markets. May’s Government will look for confirmation of the election in a vote in Parliament today. Sterling strengthened significantly to levels not seen since October against the US dollar, at one stage adding 350 pips. This has further knocked the dollar which has been under pressure in any case. With the 10 year Treasury yield falling to a five month low, the US trade weighted dollar continues to correct. The move has driven EUR/USD to break resistance and Dollar/Yen to further ... (full story)