Pound Has Decreased Amid Political Instability in UK

Market Reviews

The British pound declined after news that Prime Minister Theresa May could lose a second member of her cabinet within a week. Political unrest and scandals contribute to undermining the authority of Theresa May, who has so far not been able to achieve any tangible progress in the negotiations on Brexit.

The euro declined moderately against the US dollar against the backdrop of data on France's trade balance. The deficit in France's trade balance increased to €4.7 billion in September from €4.2 billion in August. The expected deficit level was €4.8 billion.

The decision of the RBNZ on rate will be the main focus in the upcoming Asian session. It is expected, that the central bank will keep the official cash rate unchanged at 1.75%.