The pound surged yesterday on headlines that UK PM Theresa May was likely to win a leadership challenge, which she did. When the official result was announced, the currency pulled back as market attention turned back to Brexit. As for today, euro traders are likely to lock their gaze on the ECB policy decision. The Norges Bank and the SNB decide on monetary policy as well.
Theresa May Survives Confidence Vote
After tumbling for two consecutive days, the pound rebounded yesterday to end the day as the main gainer against the other G10 currencies. It gained the most against NZD, CHF and NOK, while the currency that depreciated the least against sterling was EUR.
For the third day in a row, the epicenter, at least within the FX sphere, was UK politics. Yesterday, during the early European morning, it was...
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