Morning Update – PM on her 8th life

Morning all

Well it appears that Theresa May is now on her 8th life!

GBP & EUR

After last night’s theatrics from Parliament we have now reached a smooth section of the roller coaster and hopefully we can now concentrate on negotiating a deal with the EU. GBP has recovered (ish) and let us not forget we’ve seen the highest wage growth in the UK for 10 years since this has all been going on! Next week is really our last full week before the Christmas break so lets try and focus on the macroeconomics and park the Brexit bus!

USD

Trade wars are rumbling on however USD/CNY appears to have settled which suggests negotiations are going better than expected. It seems like China is trying to deliver something to the negotiating table that’s going to keep the momentum going. A good example of this is that China is considering a plan to ease tariffs on US cars from 40 percent to 15 percent. Will keep you posted.

Have a good day

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