Going to change the format today and just discuss GBP in isolation and divide it into topics as there is too much to cover.
Due strong inflation data this morning, GBP rose to a 9 week high, helped by strong UK inflation data. Really positive and finally the market reacted really well. Retail sales also came out way better than expected, putting us in a good place for tomorrows retail sales figures (excluding fuel). In a good place from a figures standpoint…..
Before you skim read this there have been some developments in the past 30 minutes. According to The Times PM May is said to reject Barnier’s improved Brexit offer. This has unfortunately wiped all the gains we have seen this morning from the positive data above.
Hopefully Theresa sticks to her “it’s our deal or a no deal” stance as any sign of weakness from the PM could lead to compromises elsewhere. For those of you who have literally nothing to do for 30minutes and require a chuckle it is worth watching “Brexit 6 months to go” https://www.bbc.co.uk/iplayer/episode/b0bm660d/brexit-6-months-to-go-theresa-may-interview
Back to the usual format tomorrow…have a good day