The markets on Tuesday were nervous ahead of 3 crucial geopolitical events on Thursday, resulting in the dollar dipping 0.91 percent against the yen at 109.45.
Investors sought low-risk bonds as US Treasury yields fell and the Dollar index which measures the greenback against a basket of six major currencies dropped 0.18 percent at 96.624.
3 Key Crucial Events
Markets are poised as 3 key crucial events this Thursday are to take place that will impact the stock markets:
1. Former FBI Director, James Comey is to appear before a Senate Intelligence Committee panel and give his testimony on whether President Donald Trump told him to ease off on his investigation into former national security adviser Michael Flynn and alleged collusion with Russia during his 2016 campaign.
2. The UK are to hold the general elections, with some opinion polls predicting that the governing Conservative party losing the majority of the seats to the Labor party, who have been gaining. This could result in a ‘hung parliament’, just days ahead of the Brexit talks with the European Union. Sterling dropped 0.09 percent against the dollar to $1.2889.
3. The recent upbeat euro zone data together with the markets favorable political French elections has seen the euro making gains over the recent weeks with the euro gaining 0.16 percent against the dollar to $1.127. Investors are concerned that the European Central Bank in its complacency will not deliver which could leave the euro vulnerable.
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