As Brexit Talks Loom, Shock UK Election Leaves May Hanging by a Thread – Reuters
Prime Minister Theresa May was fighting to hold on to her job on Friday as British voters dealt her a punishing blow, denying her the stronger mandate she had sought to conduct Brexit talks and instead weakening her party’s grip on power.
FX Markets Stable as UK Heads for Hung Parliament – Profit & Loss
After an initial 1.7% drop when the exit poll was released in the UK predicting a surprise hung parliament after the UK general election, FX markets have stabilised with Cable ranging around 1.2750 and EUR/GBP around 0.8780.
Comey Says Trump Fired Him to Undermine FBI Russia Investigation – Reuters
Former FBI Director James Comey accused President Donald Trump on Thursday of firing him to try to undermine the agency’s investigation of possible collusion by Trump’s campaign with Russia’s alleged efforts to influence the 2016 presidential election.
Kuroda Says Japan Still a ‘Long Way’ From Meeting Inflation Goal – Bloomberg
Bank of Japan Governor Haruhiko Kuroda said the country had escaped from deflation but still had more progress to make before reaching its goal for 2 percent inflation.
The Beginning of the End of the QE Era Challenges Fed and Treasury – Financial Times (subscription)
Unwinding stimulus without market mishaps will test both institutions.
Euro weakens after ECB policy meeting – Financial Times (subscription)
A lack of big surprises from the European Central Bank or former FBI director James Comey helped keep global markets on an even keel, as “Super Thursday” offered little in the way of market fireworks — before the results of the UK election, at least.
Qatar C.Bank Asks for FX Data as Capital Outflows Pressure Riyal – Reuters
Qatar’s central bank has asked commercial banks to provide it with detailed information on foreign exchange trading, banking sources told Reuters on Thursday as Doha’s diplomatic rift with other Gulf states put its currency under pressure.
Parallel Market Emerges in Nigeria’s Currency-Trading World – Bloomberg
A kind of parallel universe is taking shape in Nigeria’s foreign-exchange market.
The African country’s traditional forwards market is facing competition from an upstart based on the new exchange-rate window policy makers opened six weeks ago.