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Forex markets unperturbed ahead of UK election

Foreign exchange moves were relatively muted in Asia trade ahead of Thursday’s general election in the UK.

The pound sat virtually unchanged at $1.2958 ahead of Thursday’s election, while the euro was off 0.1 per cent at $0.8678.

The Australian dollar was 0.3 weaker against its US counterpart at $0.753 after data showed the country’s trade balance fell more than expected in April to the lowest level since a longstanding trade deficit came to an end in November.

Japan’s yen was 0.1 per cent weaker at ¥109.88 per dollar, while South Korea’s won shed the same amount to Won1,125.69 per dollar.