EURO (EUR/USD)
Euro traded lower by 1 percent yesterday on the back of rising “Brexit” risks. The Mayor of London, Boris Johnson, threw his support behind the UK leaving EU; however, UK’s PM David Cameron supported the idea of Britain remaining in a reformed EU. This has left the Euro currency in a pressurized state.
Moreover, disappointing release of economic data from the nation acted as a negative factor for the currency. Manufacturing sector of Germany and France took a hit owing to global slowdown.
STERLING POUND (GBP/USD)
Sterling Pound made a seven-year low and declined by 1.78 percent against the dollar yesterday after London’s Mayor, Boris Johnson, backed the campaign for Britain to leave the European Union in a June 23 referendum.
Mr. Johnson is a fellow Conservative politician and is regarded as a contender one day to succeed Mr. Cameron. All of the above factors acted as a negative factor of the Sterling Pound.
JAPANESE YEN (JPY/USD)
The Japanese Yen depreciated by 0.33 percent yesterday as upcoming G-20 meeting sessions has prompted the traders to play safe. Moreover, recent surge in commodity and energy prices acted as a positive factor for global markets.
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