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British Pound surges after UK exit poll shows Conservatives expected to win 368 seats out of 650

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  • If you were expecting a December resurgence rally, this is about the best combination of lift as you can expect - perception of Trade War and Brexit progress. Woe is the day that this fails to actually lift the markets
  • We get a December 15 tariff delay AND a Conservative majority in the UK election? APAC equities, #AUD, #NZD are going to have a fun time in the upcoming session
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  • If you don't usually follow London/European markets, a good follow to get local insights during this UK election volatility is our own https://t.co/GhQS1Fuaxt
  • $USD $DXY | US Dollar Index plunges below the 97.00 handle to its lowest level since July as the British Pound rips higher on hopes that #Brexit 'paralysis' will be no longer https://t.co/k97BaRcPMK
  • #SP500 futures pointing noticeably higher heading into Friday's Asia Pacific trading session as sentiment-linked #AUD, #NZD soar, anti-risk #Yen lower after Trump signed a #TradeDeal and the UK exit poll crossed the wires. Risk-on tilt may follow ahead https://t.co/tBkofnYr1o
  • $GBPUSD is currently sporting its second biggest single-day rally since the UK voted for Brexit back in June 2016 https://t.co/6WU3Edud6L
US Dollar Index

US Dollar Index

2010-03-22 12:59:00
Thomas Long, Course Instructor
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This chart of the US Dollar Index is a good example of what I mean.

usd

While the FX markets offer the opportunity to trade the USD against a variety of individual currencies, this chart offers a more general view of the state of the USD as it is compared to a basket of currencies. When looking for trades in the USD pairs, I often check this chart out just to make sure that I am seeing the USD strength/weakness in its purest form. Right now the USD is strong and has been since the beginning of December. So this gives me confidence that trending moves, like the downtrend of the EUR/USD is based not only on the EUR weakness, but real underlying strength in the USD. The uptrend continues on the USD as it appears poised to move up to a new recent high, so traders would most likely increase their chance of success by looking to take advantage of this strength rather than its relative weakness against a stronger currency. An example would be the recent sideways trading in the AUD/USD, it may not be based on AUD weakness, but rather a USD that is continuing to gain strength.

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