USD the Main G10 Winner, New UK Prime Minister to be Announced

The dollar gained against all the other G10 currencies, perhaps as investors scaled back bets with regards to a 50bps rate cut by the Fed at its upcoming meeting. That said, most major global bourses closed in positive territory. This may have been due to expectations of a dovish ECB on Thursday. As for today, attention is likely to fall on the UK and the final outcome of the Conservatives leadership contest, with Boris Johnson being the clear favorite for replacing Theresa May.

USD Gains on Reduced Bets Over a…