GBP/USD. Yesterday may have been a good day for Theresa May..but it’s had zero effect on this currency pair. Chart from Nicole Elliott – Investors Chronicle.

 

GBP/USD SHORT TERM TRADER: Small long at 1.3835; stop below 1.3780. Target 1.4100.

GBP/USD POSITION TAKER: Small long at 1.3775; stop below 1.3780. Target 1.4250.

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Abe’s worst crisis
Japan’s PM popularity slides

Reuters reports today that in a survey carried out by Japanese news agency Jiji this week, Prime Minister Abe’s ratings slumped by 9.4 points to 39.3 per cent. He and finance minister Taro Aso are embroiled in a scandal of the dubious sale of government land to a school with links to Akie, Abe’s wife. Documents regarding the sale had been tampered with in what is believed to be an attempted cover up. The survey also found that 40.4 per cent of those questioned do not support him at all, because they do not trust him.

Because British firms must, banking giant HSBC yesterday reported the gender pay gap between male and female employees. It got worse in 2017, ladies paid 60 per cent less than men against a 59 per cent mean pay gap in 2016, City AM reports. When it comes to bonuses, women took home 84 per cent less than men. Elaine Arden, group head of the bank’s human resources said, ‘these issues are a challenge for our industry’. It is indeed, with Citi’s top dog Michael Corbat taking home $17.8 million last year, 369 times more than the average salary at the bank. Bank of America’s CEO Brian Moynihan pocketed $23 million in the same year, a chunky 250 times that of the median employee.

Financial & Political Commentary

 

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