GBP/JPY Rose 500 Pips After Boris Johnson Won Parliamentary Majority

With a majority Parliament won, PM Johnson will be able to get his Brexit deal through Parliament without further delay and take Britain out of the European Union. GBP/JPY could retrace first before going higher.

The Conservative Party led by Boris Johnson won 363 seats, the party’s best result since Margaret Thatcher’s third election win in 1987.

Labour’s vote slumped from the famous 40% close finish in 2017 to 32.6% or just 203 seats this time around.

With Johnson having the majority in Parliament, he will be able to get his Brexit deal through without much resistance by the end of January 2020.

Japanese yen, on the other hand, fell after US President Trump tweeted “Getting VERY close to a BIG DEAL with China. They want it, and so do we!”.

Furthermore, there are reports saying that Trump had signed the deal to pause the 15 December tariffs. This will be reported later today according to BBC news.

We could see a retracement in GBP/JPY towards the 145.30 price level before this pair moves higher.

Ultimately, the US-China trade deal will be the last market-mover we have for the week and how the market moves will be largely dependent on that.

Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. ...

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