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Brexit party strikes to UK victory in EU elections

Brexit party strikes to UK victory in EU elections

Pound and Euro looks bearish towards US dollar

Support for the Labour and Tories collapsed on a night when Britain’s deep seperation over the European Union is starkly exposed, as the newly established Brexit party has stormed to win in the EU elections in the UK.

The anti-brexit Lib Dem support surges to second place with twenty per cent of vote, whereas Mr Farage’s Brexit party gained 32 per cent of the vote according to results from nine out of ten UK regions already declared. This is reflecting the polarization of public attitude and rings wake up bells for established UK political parties.

EUR/USD is fixed around 1.1200 while main EU parties lost their position to both centrist and extreme parties. Trump announced that he waits for a trade deal with China. Liquidity is narrow because of a UK holiday.

 GBP/USD is trading nearly 1.2720, suggesting recovery. Farage's Brexit party victory in the EU elections may hit pound however a trio of Remain parties balance him out. Uncertainty stays high after PM May announced her resignation.

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