The UK holds local elections next week Thursday and the Conservative party are expected to take a strong kicking. Sterling came in for a bit of a beating on Friday following an awful GDP report. We were bearish before this announcement but this number caused a sharp intake of breath. 0.1% is the lowest quarter on quarter growth since Q4 2012 with particular weakness seen in construction and services sectors – together accounting for over 80% of the UK economy. There are some