Archived IMT (2010.04.06)

GBP is the day's weakest currency and JPY is the strongest out of a group of top traded 12 currencies. GBPUSD hits fresh session lows despite the strongest UK construction PMI in over 2 years. PM Gordon Brown is expected to formally call the election on May 6. Mixed opinion polls are said to be the reason behind GBP weakness, specifically an ICM poll in the Guardian showing the Conservatives lead being cut to just 4 points. Other surveys continue to show Conservatives lead at double digits. Technically, cables failure at $1.53 remains prominent, just as EURUSDs inability to close above $1.35, now vulnerable to $1.3370. Tokyo traders bought back yen, dragging yen pairs down across the board. NZDJPY eyes 65.15, EURJPY eyes 125.22.