The weekend snap elections called by Prime Minister Shinzo Abe saw the voters giving Abe a strong mandate. This pushed the Japanese yen lower as the US dollar briefly touched 114.00. Abe called the snap elections in a bid to consolidate power amid threats from North Korea.
In Spain, the government was seen moving ahead with its bid to dissolve the Catalonian parliament. A parliamentary vote is pending on Tuesday. The move saw the Catalonian parliament rejecting the government’s move. The euro was seen opening weaker on the day.
Looking ahead, the economic calendar today will see the flash manufacturing and services PMI from the Eurozone and the US No major events are lined up today ahead of this week’s BoC and the ECB meetings. The US dollar continues to briefly trade higher amid hopes of tax cuts from the Trump administration.
