020 7898 0500Sterling ended the day in a better shape than when it started. In line with last week’s performance, the UK started this week in less than desirable form, struggling with the pressure placed on it from Philip Hammond and Boris Johnson and their Brexit rhetoric, as well as the ongoing banking saga with Deutsche Bank and its share price decline. Sterling has suffered here because it has been sold off in an environment of risk aversion. However, yesterday afternoon saw a rebound of almost a percent from the start of the day.
Data has been very light, with only CBI realised sales figures coming out worse than expected yesterday. All eyes are on macro events, with the US election, European banking issues and also ongoing Brexit speculation driving sterling and its currency peers.
