In the UK, as the Tory leadership race contenders start to declare candidacies Sterling has touched fresh lows this week. And as the race develops, if - as our analysts expect - they battle intensifies about who amongst them will offer the most extreme of Brexits, there is scope for Sterling to go lower this Summer. It's likely to be a very crowded field, with 12 Tory MPs having indicated that they will stand, so far, and others may declare before the end of next week. Parlia
Finally, the most anticipated Prime Ministerial resignation has happened and Sterling immediately jumped against both the Euro and the Greenback. In fact, it had been on an upward trend this morning as rumours of her immminent departure intensified.
For most of this year sterling has traded within a relatively narrow range as markets awaited further clarity on Brexit. However, over the last couple of weeks it has slipped sharply and this week it moved below 1.27 against th
As expected the Tory/Labour talks have collapsed. This is chiefly because nobody wants to be blamed for whatever fiasco ends up being resulting from Brexit.
Politics remain dominant factor into the weekend With little on the data calendar today, politics and headlines are likely to remain the driver of price action into the weekend. Overnight, China suggested that there was little interest in continuing the trade talks with the US as it sees a lack of “sincerity” in recent