UK PM MAY - MY WAY OR THE HIGHWAY

The UK PM Theresa May stunned the world by calling a snap general election. This had a massive bearing on sterling, and following an immediate drop on the news due to the uncertainty that elections generally cause, GBP suddenly started to resemble a freight train as it powered up an incredible 330 points off it's lows. This was in response to May's powerful 'leadership' speech in the Commons. Theresa stood there and stared around the hall stating that the British population can either move forward with her or trust a coalition government with Labour leader Jeremy Corbyn at it's helm. How she managed to say the latter without breaking down in tears of laughter remains a mystery! Cable soared to over 1.29 and has held much of it's gains as at time of writing. Meanwhile up in bonny Scotland, deluded Scottish Smurf Nicola Sturgeon has managed to convince herself that every single Scot craves independence insisting that a general election gives her the green light to hold another referendum vote immediately after the general election result. Desperate for some TV minutes that her expensive personal make-over deserves she attended a rally in Westminster to once again shout "freedom". Unfortunately for Nicola, she doesn't quite seem as influential as William Wallace. Following North Korean leader Kim Jong-Un's show of military might last weekend parading 'super' missiles it appears that the following missile test went spectacularly wrong in embarrassing fashion. Russia made a move similar to China's by moving military personnel onto it's border with North Korea as fears of massive numbers of Koreans trying to escape their country if the U.S decides to attack the dictator. Rhetoric from the States has gone strangely quiet over the last couple of days, which is probably a sure sign that something big is about to happen. Away from war talk, at the start of the week U.S Treasury Secretary Mnuchin expressed his desire for a strong dollar despite President Trump's statement just last week that he supported a weak dollar policy! One feels that someone somewhere is not singing from the same hymn sheet. Elsewhere, the market buzz is taking into account the French election first round this Sunday. The most recent polls (which most sensible people don't take any notice of) are showing that the more Conservative candidate Macron to be slightly in the lead. However, European elites are still very much on edge at the thought of Far Right's Marine Le Pen going through to the next round . The euro is standing at a lofty 1.0775 right now but should the unthinkable happen and Le Pen triumphs this weekend then expect a hefty move to the downside. We feel that this weekend could be a very interesting one.