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Currency Market Analysis

Global Themes

The FX market was choppy and twitchy ahead of America’s long holiday weekend. The U.S. dollar was mostly flat as big losses against the yen were counterbalanced by renewed strength against the U.K. pound. Sterling plunged to three-week lows, getting whacked by a poll showing an evaporating lead for Prime Minister Theresa May ahead of the national vote in less than two weeks on June 8. The original thinking when Mrs. May announced the snap election in April was that she could win a supermajority in Parliament, giving her a strong mandate to call the shots with respect to Brexit negotiations wit

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